RSM100Y1 Chapter 12: RSM100 CH12
Document Summary
Product- a bundle of physical, service, and symbolic characteristics designed to satisfy consumer wants. Marketing decisions include: package design, brand name, trademarks, warranties, product image, new-product development, and customer-service. Marketers have found it useful to classify goods and services as either b2c or b2b. Goods and services used by end consumers who purchase the good for their own use and enjoyment. Convenience products- items that consumers purchase frequently, and with little effort. Shopping products- products that are usually purchased only after the buyer has compared competing products in the store. Specialty products- products that a purchaser is willing to make a special effort to obtain. Knowing the proper classification helps marketers understand how other variables will affect the product, and help lead to developing a marketing strategy. Business products- goods and services such as paycheque services and huge multifunction copying machines used in operating an organization. Capital items- products that are long-lived and relatively expensive.
