MKTG 2030 Chapter 5: Chapter 5
Document Summary
Product: products aren"t the same as goods, a product is basically the overall experience accompanied with that good or service. For example starbucks, its not only the coffee the people purchase it"s the whole caf experience doubled with the other services ie. free wifi, friendly employees. There are 4 levels of a product as show on the left: Lessons learned: customrs odnt buy product features or attributes (core product) they buy the potential product, ie. what the product can do for them, build your brand from the inside out but always focus from the outside in. B/c all products will become commodities its essential that you focus on the customer: focusing on the potential product allows you to differentiate your products from competitors infinitely, because customer needs are infinite and always changing. Here"s an example of the potential product some successful organizations offer: Nike makes the same thing as new balance for example.
