RSM100Y1 Chapter Notes - Chapter 12: Customer Relationship Management, Marketing Strategy, Costco
Document Summary
Product strategy: product: a bundle of physical, service, and symbolic characteristics designed to satisfy consumer wants. Product strategy: more than just producing a good/service, focuses on the benefit of the good/service. Marketing concept of a product includes decisions about package design, brand name, trademarks, warranties, product image, new-product development, and customer service: classifying consumer goods and services (by how consumers buy them): Convenience products: items that consumers purchase frequently, immediately, and with little effort i. e. newspaper, snacks, candy, coffee, and bread from gas stations, vending machines, and local newsstands. Shopping products: products that are usually purchased only after the buyer has compared competing products in competing stores i. e. a new sofa or dining room table. Speciality products: products that a purchaser is willing to make a special effort to obtain; the purchaser is familiar with the item and considers it to have no reasonable substitute i. e. a brand new mini cooper car. Marketing impacts of consumer product classification (p327):
