BUS 360 Lecture 11: Chapter 11 NOTES BUS360
Document Summary
Core customer value basic problem solving benefits that consumers are seeking. Components: actual product physical attributes of a product including the brand name, features/design, quality level, and packaging associated services. Augmented product non-physical attributes of the product including product warranties, financing, product support, and after-sale service. Product mix complete set of all p/s offered by a firm which reflects breadth/depth of co. "s product lines; product lines groups of associated items that consumers tend to use together depth = # of products within a product line. *too much breadth in mix becomes costly, too many brands may weaken firm"s reputation. Increase depth by adding new things, decrease depth, decrease breadth by deleting entire product lines, or increase breadth. * branding provides a way for a firm to differentiate its product from competitors. Value of branding for the customer: brands facilitate purchases, brands est. Loyalty, brands protect from competition and price competition, brands are. Brand ownership manufacturer brands national brands & retailer/store.
