Management and Organizational Studies 1021A/B Chapter 7: Chapter 7 - Products and Brands.docx

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: James O' Brien

Document Summary

Product - a good, service, or idea consisting of a bundle of tangible and intangible attributes. Chapter 7 - products and brands tangible attributes include physical characteristics like colour, sweetness etc. Supplementary service - often allow services to differentiate their offerings from competitors while adding value for consumers. Key categories include information, delivery, consultation, order taking, billing, and payment options. Services comprise of 70% of canada"s gross domestic product. Service continuum - a range from tangible goods to intangible services. Intangibility - services 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. Inconsistency - quality of a service often inconsistent because it depends on people who provide the service. Quality can vary with each person"s capabilities, experience, motivation, and even personality.