MGMA01H3 Chapter Notes - Chapter 9: Toothpaste, Social Marketing, Interactive Marketing
Document Summary
Product anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Service an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything: form of product. Products are key element in overall market offering. Offering brings values to target customers: basis on which company builds profitable customer relationships. Company"s market offering includes both goods and services. Today, companies are creating and managing customer experiences with their brands or company to differentiate their offers. Companies that market experiences realize that customers are buying what those offers will do for them. Product planners need to think about products and services on three levels, each level adding more customer value. At second level, product planners must turn core benefit into an actual product: need to develop product and service features, design, a quality level, a brand name, and packaging.
