Management and Organizational Studies 1021A/B Chapter : Textbook Notes - Jan 30.docx

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

Document Summary

Products are divided into three main categories: non-durable goods items that do not last and that are consumed only once, or for a limited number of times. Ex: food: durable goods a product that lasts for an extended period of time. Ex: appliances and automobiles: services intangible activities, benefits, or satisfactions offered for sale. Ex: banking and visits to the doctor. Services have primary services and supplementary services. Supplementary services often allow services to differentiate their offerings from competitors while adding value for consumers. As companies look at what they bring to market, there is a range from the tangible to the intangible defined as the service continuum. There are four unique elements to services: (referred to as the four is of services) Intangible: can"t be held, touched or seen before the purchase, to help consumers assess and compare services, it is important for marketers to demonstrate the benefits of using the service.