26100 Lecture Notes - Lecture 6: Marketing Mix, Pest Analysis, Sales Promotion
Document Summary
A product is a complex mix of tangible and intangible attributes that provide satisfaction and benefits. A good is a physical entity you can touch. A service is the application of human and mechanical efforts to people or objects to provide intangible benefits to customers. Value can be created through: the core offering, the enhanced offering. Augmented offering: o(cid:396) all of the above! Amount of money charged for a good or service, or the sum of values consumers exchange for the benefits of having or using the product or service. Price consists of different components, like base price, rebates, . Price goes in many names: fee, toll, tariff, wage, . The only element of the marketing mix that produces revenue is price. A company does not usually set a single price, but rather a pricing structure that covers different items in its product line e. g. apple products.
