ADM 2320 Chapter 9: Marketing
14 Nov 2018
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Document Summary
Core customer value the basic problem-solving benefits that consumers are seeking: actual product, brand-name, packaging, quality level, features/design, associated services (augmented product, the nonphysical attributes of the product, including product warranties, financing, product support and after-sale service. Classification of product (who is the end users?: business products, products that assist directly or indirectly in providing product for resale or produce (b2b products) Consumer products: products purchased by the ultimate consumer. Types of products consumer (slide 17, there"s summary) Frequent purchases: minimal buying effort, widespread distribution, mass promotion by producer. Strong brand preference and loyalty, requires special purchase effort, little brand comparisons, and low price sensitivity: high price, exclusive distribution, carefully targeted promotions. Less frequent purchases: more shopping effort for comparisons, higher price, advertising and personal selling. Little product awareness and knowledge (or if aware, sometimes negative interest: pricing varies, distribution varies, aggressive advertising and personal selling by producers and resellers. Product item: a specific version of a product.
