Management and Organizational Studies 2320A/B Chapter Notes - Chapter 9: Pampers, Rice Krispies, Tostitos

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: Emily Chen- Bendle

Document Summary

Core customer value the basic problem-solving benefits that consumers are seeking. Marketers convert core customer value into an actual product. Associated services (augmented product) the nonphysical attributes of the product, including product warranties, financing, product support, and after-sale service. There are two primary categories of products and services based on who is buying them: consumers or businesses. Consumer products used by people for their personal use. Specialty products/services: customers show a strong enough preference towards these that they will expend considerable effort to search for the best suppliers (luxury cars, legal/medical professionals, etc. ) Shopping products/services: consumers spend a fair amount of time comparing alternatives (furniture, fragrances, appliances, travel alternatives) Convenience products/services: consumer is not willing to spend any effort to evaluate prior to purchase (commodity items) Unsought products/services: products that consumers do not normally think of buying (ex. funeral service, fire extinguishers, etc. ) or do not know about, these products require lots of marketing effort and various forms of promotion.