MGM102H5 Chapter Notes - Chapter 9: Instant Coffee, University Of Toronto Mississauga, Rice Krispies
Document Summary
Mgm102h5s - management in changing environment (winter 2017) Core customer value - the basic problem solving benefits that consumers are seeking. Marketers covert core customer value into an actual product. Attributes such as brand name, features/design, quality level and packaging are considered. Associated services (augmented product) - the non physical attributes of the product, including product warranties, financing, product support and after-sale service. When developing or changing a product, marketers start with the core customer value to determine what their potential customers are seeking. Then they make the actual physical product and add associated services to round out the offering. Marketers consider the types of products they are designing and selling because that impacts how they promote, price and distribute their products. There are two primary categories of products/services based on who is buying them: consumers or businesses. Consumer products - products and services used by people for their personal use.
