MGM102H5 Chapter Notes - Chapter 9: Zipper, Customer Relationship Management, Probiotic
Document Summary
Chapter 9: product, branding, and packaging decisions: this chapter deals with the first p in the marketing mix: product. Complexity of products and types of products: complexity of products. More to a product than physical characteristics or basic functions. At the centre is the core customer value: core customer value: basic problem-solving benefits consumers are seeking. Marketers convert core customer value into an actual product: brand name, features/design, quality level and packaging are considered importance of attributes vary depending on the product. When developing or changing a product, marketers start with the core customer value to determine what potential customers are seeking: type of products. Types of products companies sell impact how they promote, price and distribute products. Two primary categories of products and services based on who is buying them: consumers or businesses. Product mix and product line decisions: product mix: complete set of all products offered by a firm. Product mix typically consists of various product lines.
