MGMT 322 Chapter Notes - Chapter 10: Umbrella Brand, Toothpaste, Uniform Commercial Code
Document Summary
The p(cid:396)odu(cid:272)t offe(cid:396)i(cid:374)g, the hea(cid:396)t of a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374)"s (cid:373)a(cid:396)keti(cid:374)g p(cid:396)og(cid:396)a(cid:373), is usuall(cid:455) the sta(cid:396)ti(cid:374)g point in creating a marketing mix. A marketing manager cannot determine a price, design a promotion strategy, or create a distribution channel until the firm has a product to sell. Moreover, an excellent distribution channel, a persuasive promotion campaign, and a fair price have no value when the product offering is poor or inadequate. Product everything, both favorable and unfavorable, that a person receives in an exchange: could be a tangible good, a service, an idea, or a combination of the three, some typical features include packaging, style, color, options, and size. To most people, the term product means a tangible good. Products can be classified as either business (cid:894)i(cid:374)dust(cid:396)ial(cid:895) o(cid:396) (cid:272)o(cid:374)su(cid:373)e(cid:396), depe(cid:374)di(cid:374)g o(cid:374) the (cid:271)u(cid:455)e(cid:396)"s intentions. The key distinction between the two types of products is their intended use. A (cid:272)o(cid:374)su(cid:373)e(cid:396) p(cid:396)odu(cid:272)t is (cid:271)ought to satisf(cid:455) a(cid:374) i(cid:374)di(cid:448)idual"s pe(cid:396)so(cid:374)al (cid:449)a(cid:374)ts o(cid:396) (cid:374)eeds.
