MKTG 341 Lecture Notes - Lecture 6: Target Market, Management Consulting, Sales Promotion
30 Jul 2017
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Week 4 (jun 5) products & services. Products & services: product-service continuum, levels of products & services, product classifications, product & service decisions. Identify core customer value: design an actual product, find ways to augment the product to create the bundle of benefits. Product classifications: consumer products, convenience products, shopping products, specialty products, unsought products. Industrial products: materials and parts, capital items, suppliers and services. Examples of consumer products: convenience products, shopping products, specialty products, designer clothes, services of legal specialists, etc, unsought products, life insurance, dental services, blood donations, etc. Advertising & personal selling by producer and resellers. Aggressive advertising and personal selling by producer and resellers. Product and service decisions: features, design, packaging, quality, branding, product-support services. Features: to differentiate the company"s product from competing products. Identify and decide new features by conducting surveys. Design: begin with observing customers, understanding needs, and shaping product experience, think more about how customers will benefit from the product.
