BSM 100 Chapter Notes - Chapter 11: Pizza Hut, Shampoo, Intangibility

• School: Ryerson University
• Department: Business Essentials
• Course: BSM 100
• Professor: Singh Ranjita

Document Summary

Appealing to variety of customers through their different drinks + versions. Variety is important bc it well help them understand customers, what they want. They will be aware of changing needs/beliefs/attitudes/wants/etc and are able to adapt and react to this. Moved into water bc established brand in drink industry, known as thirst quencher. Also cares about variety bc helps them move forward. Product can be anything a company offers to satisfy consumer needs and wants, possibilities not only include physical goods but services and ideas. Also buy attributes when buying a product such as brand name, image, packaging, reputation and guarantee. Make sure to max value without sacrificing profitability. Satisfaction comes from value (benefits): functions, guarantee in life of product/service, brand association (buying bc of lifestyle brand is promoting), attractive packaging. Most services embody: intangibility, inseparability, variability, and perishability. Biggest challenge in marketing services: customer expectation/feedback, free trial, reviews (real customer experiences), demystifying/what to expect,