Management and Organizational Studies 1021A/B Chapter Notes - Chapter 24: Marketing Mix, Chocolate Bar, Brand Equity

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Bob Larose

Document Summary

In the service industry, issues arise due to fluctuating demand throughout the day and the difficulty in accessing the manpower needed to service these needs. Idle production capacity= when the supply of a service exceeds its demand. To deal w/ )pc, service industry often uses part-time employees who are paid an hourly wage and are scheduled to works shifts. Marketers view products as having (cid:885) different layers: core product= fundamental benefit that a consumer derives from having the product. E. g. bicycle transportation/ pleasure of participating in a leisurely sport: actual product= physical good/ service that a consumer purchases when buying a product. Including the product"s branding, design and features: augmented product= additional features and attributes that accompany a product. E. g. warranty, service contract, delivery options, installation assistance, a website used to distinguish the product from competitors etc. Usually exist for more expensive purchases e. g. cars, tvs, and not exist for simple purchases e. g. chocolate bar, newspaper.