MKT 100 Lecture Notes - Lecture 4: Carbon Monoxide Detector, Universal Product Code, Deodorant

• School: Ryerson University
• Department: Marketing
• Course: MKT 100
• Professor: Anthony Francescucci

Document Summary

Complexity of products: core customer value the basic problem-solving beneits that consumers are seeking. Can be turned into an actual product. Asks the question = what are customers looking for: associated services (augmented product) the nonphysical attributes of the product, including product warranties, inancing, product support, and after-sale service. Example: canada goose comes with lifetime warranty for defects in materials or workmanship. 2 primary categories of products & services based on who is buying them: consumer or business. Consumer products products and services used by people for their personal use: speciality goods. Have unique characteristics or brand identiication which suicient buyers are willing to make a special purchasing efort and do not require comparison. Example: luxury cars, legal or medical professionals & designer apparel: shopping goods. Consumers spend a fair amount of time comparing alternatives. Compared on suitability, quality, price, & style. Example: furniture, apparel, fragrance, appliances, travel alternatives: convenience goods. Consumer will not spend any efort to evaluate purchases.