MARK20100 Chapter Notes - Chapter 7: Cash Flow, Psychographic, Business Case
Document Summary
Chapter 07 product strategy and new-product development2/28/2017 7:11:00 pm. The primary function of marketing and the entire organization is to deliver value to the customer. Essential benefit the fundamental need met by the product, must be part of the encounter no matter what other value-added product experiences are provided to the customer. Core product companies translate the essential benefit into physical, tangible elements known as the core product. Enhanced product extends the core product to include additional features, designs, and innovations that exceed customer expectations. The nature of the product: tangibility and durability: tangibility products, as opposed to services have a physical aspect referred to as tangibility. Services are intangible: durability references the length of product usage. Nondurable products usually consumed in a few uses and in general cost less than durable products. Durable product have a longer product life and are often more expensive. Who uses the product: consumers or businesses: consumer purchase habits fall into four broad categories:
