Management and Organizational Studies 1021A/B Lecture 9: Lecture 9 - The Marketing Mix Product, Place, Price, and Promotion

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Hayden Woodley

Document Summary

Lecture 9 - the marketing mix: product, place, price, and. Exam 3 is april 9th, 10am - 12pm. Product: good, services, or idea, consisting of a bundle of tangible and intangible attributes. Intangible: aspects of a product that can"t be touched. Products can be offline (e. g. cereal, taking a vacation) Non durable goods: ite(cid:373)s that do(cid:374)"t last a(cid:374)d are (cid:272)o(cid:374)su(cid:373)ed for a li(cid:373)ited number of times (e. g. bag of popcorn, fuel) Durable goods: items that last over an extended number of uses (e. g. , appliances, vehicles. Service: intangible activities, benefits, or satisfactions (e. g. , taking a vacation or going to a movie. In the services industry, one can distinguish between primary services (e. g. , a bank providing bank accounts) and supplementary services (e. g. , parking, Abms) - supplementary services are great at setting yourself apart from others. Services generally cannot be held, touched, or seen before a purchase. Hard to know if it"s a good services from consumer point of view.