Management and Organizational Studies 1021A/B Lecture Notes - Lecture 9: Shoppers Drug Mart, Marketing Mix, Brand Equity

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Hayden Woodley

Document Summary

Mos lecture 9 the marketing mix: product, price, place, promotion. Product: good, service, or idea, consisting of a bundle of tangible and intangible attributes. Intangible = how a product makes you feel. Non-durable goods: items that don"t last and are consumed for a limited number of times (ex. Durable goods: items that last over an extended number of uses (ex. Taking a vacation or going to a movie) Primary service = a bank providing bank accounts. Supplementary service = parking, abms, updates, free delivery: allow products to differentiate offerings from competition while adding value to consumers. Virtual service = exists only online, no form of person-to-person interaction. Service continuum = the range of what companies bring to the market, from the tangible to the intangible, or goods-dominant to service-dominant. Intangibility: services generally cannot be held, touched, or seen before a purchase. Inconsistency: the quality of a service is dependent on the people who provide it.