MGMA01H3 Chapter Notes - Chapter 9: Brand Valuation, Old Navy, Life Insurance
Document Summary
Product: anything that can be offered to satisfy a consumer"s need/want. Service: an intangible product; buying a service does not result in ownership. Convenience: frequent purchases bought with minimum buying effort and little comparison shopping. Shopping: less frequent purchases, more comparison effort, higher than convenience good pricing, selective distribution, personal selling, advertising. Specialty: strong brand preference and loyalty, requires special purchase effort, little brand comparisons, and low price sensitivity. Unsought: little product awareness and knowledge (or if aware, sometimes negative interest) Examples: life insurance, preplanned funeral services, new innovations. Actual product: brand name, quality level, packaging, design, features. Augmented product: delivery and credit, installation, warranty, after-sale service. Product line: a broad group of products, intended for similar uses and having similar characteristics. Examples: panasonic: tvs, dvd players, telephones, audio equipment etc. Products in the same product line often: function in a similar manner. Are sold to the same customer groups.
