MKT 340 Lecture Notes - Lecture 4: Sales Promotion, Reverse Innovation, Reverse Engineering
7 Feb 2020
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Document Summary
Chapter 11 - product, branding, and packaging decisions. More to product than physical characteristics or its basic service function. Core customer value: defines the basic problem-solving benefits that consumers are seeking. Convert core customer value into actual product. Actual product: the physical attributes of a product including the brand name, features/design, quality level, and packaging. Associated services: ( also called augmented product) the nonphysical attributes of the product including product warranties, financing, product support, and after-sale service. The amount of associated services varies with product. Products: anything that is of value to a consumer and can be offered through a voluntary marketing change. Convenience products/services: for which the consumer is not willing to expend any effort to evaluate prior to purchase. We can touch, see, smell, hear, taste or process. What we pay for use but never own. Types of product will affect how they will promote, price, and distribute their products.
