SMG MK 323 Lecture Notes - Lecture 11: Cream Cheese, Brand Equity, Costco
Document Summary
11. 1 complexity of products (complexity & types of products) Marketers involved with the development, design, and sale of products think of physical characteristics and service functions in an interrelated fashion. At the center is core customer value which defines the basic problem-solving benefits the consumers are seeking. Marketers convert the core customer value into actual products. Associated services (augmented product) includes the nonphysical aspects of the product such as product warranties, financing, product support, and after-sale service. Amount of associated service varies with products. Ex: m&m associated service = customer complaint line. 11. 2 types of products (complexity & types of products) Two primary categories of products and services that reflect who buy them: consumers or businesses. Product mix = complete set of all products offered by a firm. Consists of various product lines which are groups of associated items that consumers tend to use together or think of as part of a group of similar products or services.
