Management and Organizational Studies 1021A/B Lecture Notes - Lecture 10: Generic Brand, Frosted Flakes, Marketing Mix

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

Document Summary

Lecture 10: the marketing mix product, price, place, promotion. Product - a good, service, or idea consisting of a bundle of tangible and intangible attributes. Intangible - aspects of a product that can"t be touched. Products can be offline (cereal, taking a vacation), or online (twitter, search engines: a product that is offline doesn"t necessarily not have an online presence. Non-durable goods items that don"t last and are consumed for a limited number of times. Durable goods items that last over an extended number of uses. Service intangible activities, benefits or satisfactions: primary services ex. a bank providing bank accounts, supplementary services parking, abms great way to set yourself apart from competition. Intangibility services generally can"t be held, touched or seen before a purchase: overcome by testimonials. Inconsistency the quality of a service is dependent on the people who provide it: train people (relates to hr) so we can eliminate inconsistency.