Management and Organizational Studies 2320A/B Chapter Notes - Chapter 9: Targeted Advertising, Life Insurance, Internal Communications

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Chapter 9: products, services, brands - building customer value. Product: anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need (includes services, events, persons, places, organizations, ideas or mixes of these) Market offering often includes a mix of both product and service. Levels of products and services augmented actual core. 1st level core customer value: what is the customer really buying? . When designing products/services, marketrs must define the core, problem solving benefits or services customers seek: women buying lipstick is getting more than lip colour, they are getting hope. 2nd level actual product: develop product and service features, a design, quality level, brand name, packaging. 3rd level augmented product: build around core product and actual product by offering additional consumer services and benefits. Warranty, instructions, repair services, toll free #, website.