MGTA02H3 Chapter Notes - Chapter 3: Fast-Moving Consumer Goods, Everett Rogers, Breakfast Cereal
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MGTA02H3 Full Course Notes
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Mgta02 chapter 3 products: the things customers need and want. Product: a good/service that fills a buyer"s need or satisfies a want: most products deliver 3 elements: Function: what a product intends to do: ex. A car is intended to provide a means of transport, hotel provide accommodation for the night, pair of shoes to protect ones feat. Feature: additional attributes or offerings which contributes improved usefulness or experience to a product: ex. Regular car vs car with ac, heating etc. & regular hotel vs hotel with good food, swimming pool, gym etc. Another feature could be making the product bigger, more powerful, or long lasting. A feature could be the use of better quality of more durable materials in the construction of the good. Features of services might include greater convenience of location, longer hours, better d cor, or more carefully trained staff. Benefits: the advantages that are derived from purchasing a product.
