BUSI 2204 Chapter Notes -Customer Retention, Interactive Marketing, Internal Communications
Document Summary
Products, services, and brands - building customer value. Product - anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Service - an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything. Market offering builds value that targets the customer. Offering becomes the basis on which the company builds profitable customer relationship. Market offering often includes both tangible goods and services. Can be a purely tangible good or a pure service. Must differentiate company through the experience it provides. Level 2: turn core benefit into actual product. Must develop a product and service features, a design, a quality level, a brand. Level 3: provide an augmented product around the core benefit that ameliorates the core - by offering additional services. Products and services bought by final consumers for personal consumption.
