Chapter 7 - Products and Brands.docx

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Western University
Management and Organizational Studies
Management and Organizational Studies 1021A/B
James O' Brien

Chapter 7Products and Brands Producta good service or idea consisting of a bundle of tangible and intangible attributestangible attributes include physical characteristics like colour sweetness etcintangible attributes include aspects that cant be touchedproducts divided into 3 categories 1 Nondurable goodsitem that does not last and is consumed only once or for a limited number of times food products fuel 2 Durable goodsitem that lasts over an extended number of uses appliances cars 3 Servicesintangible activities benefits or satisfactions offered for sale banking doctors visit taking vacation going to moviePrimary serviceSupplementary serviceoften allow services to differentiate their offerings from competitors while adding value for consumers Key categories include information delivery consultation order taking billing and payment optionsservices comprise of 70 of Canadas gross domestic productService continuuma range from tangible goods to intangible services The 4 Is of Service Intangibilityservices tend to be more performance oriented and cannot be tried before they are purchased Marketers demonstrate the benefits of the service through movie trailers testimonials etc to prove satisfaction Inconsistencyquality of a service often inconsistent because it depends on people who provide the service Quality can vary with each persons capabilities experience motivation and even personality Inseparabilityin most cases the consumer cannot and does not separate the deliverer of the service from the service itself Eg the quality of an institution may be high but if the student has difficulty interacting with certain instructors the student may not be satisfied with the educational experience Inventoryissues arise due to the fluctuating demand for services throughout the day and the difficulty in assessing the manpower needed to service these needsIdle production capacity refers to when the supply of the service exceeds its demand It is expensive when service is made available at times when there is little demandto deal with this the service industry uses many parttime employees who are paid hourly to work shifts Eg number of cashier will vary depending on time of day
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