MKT 320F Chapter Notes - Chapter 9: Management Consulting, Soup, Life Insurance
Document Summary
Chapter 9: elements of product planning for goods and services. Customers buy satisfaction, not parts: companies are really selling satisfaction, use, or benefit the customers want. -quality: a product"s ability to satisfy a customer"s needs or requirements; focuses on the customer and how the customer thinks a product will fit some purpose. -a product may be a physical good, service, or blend of both. -a good is a physical thing; can be seen or touched. -when you provide a customer with a service, customer cannot keep it. -a service is experienced or used by a customer. -sometime a challenge that customer cannot see, smell, feel, a service before they buy it; so seek referral before buying or advice from online reviews. -goods are typically mass-produced in a factory far away from the customer. -service is usually produced in person where the customer is located after the customer has committed to buy it.
