BSM 100 Lecture Notes - Lecture 41: Brand Loyalty, Fanta, Product Classification
8 Nov 2016
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Offers variety of different drinks to reach a wider consumer base; those that have different preferences. All these brands (under coca cola) all are within the same industry. Anything a company offers to satisfy customer needs and wants, including both goods and services. Functionality (features/ what it can do ) Value is made up of all the above ^^ Intangible - something you can"t see, but it offers something of value - ex. Inseparability - the presence of the client and the person providing the service. Customer benefit package (product layers: peeling the onion) Augmented product - warranties, free service, instruction manual (adds to competitive edge) All the above adds to the consumer satisfaction. Shopping products - house, not used everyday. Difficult to get, expensive, luxury product, takes time to decide. Not everyone can access it, not used every day. You don"t actively seek, but you need. How do marketers typically promote and distribute w/in each category:
