MGMT 105 Chapter Notes - Chapter 10: Planned Obsolescence, Toyota Electronic Modulated Suspension, Brand Equity
8 Jun 2016
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Document Summary
The product offering, the heart of an organization"s marketing program, is usually the starting point in creating a marketing mix. Product: everything, both favorable and unfavorable, that a person receives in an exchange. Business product (industrial product): used to manufacture other goods or services, to facilitate an organization"s operations, or to resell to other customers. Consumer product: bought to satisfy an individual"s personal wants. Convenience product: a relatively inexpensive item that merits little shopping efforts. Shopping product: requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores. Specialty product: a particular item for which consumers search extensively and are very reluctant to accept substitutes. Unsought product: a product unknown to the potential buyer or a known product that the buyer does not actively seek. Rarely does a company sell a single product. They have product item, product line, and product mix.
