MGTA02H3 : Detailed
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MGTA02H3 Full Course Notes
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The value package either good, service or both, customers get value from the benefits, features and intangible rewards associated with a product. Features: the qualities, both tangible and intangible, that a company builds into its products (features are different from benefits; features must provide benefits ex. Benefits are very important; they can be the focal point of a marketing campaign, rather than features. Value package: product marketed as a bundle of value-adding attributes, including reasonable cost. One way to classify goods and services is according to who is expected to buy them; there are buyers of consumer products and buyers of industrial products. Convenience goods and services: relatively inexpensive, consumer goods or services that are bought and used rapidly and regularly, causing consumers to spend little time looking for them or comparing their prices (ex. Shopping goods and services: moderately expensive consumer goods or services that are purchased infrequently, causing consumers to spend some time comparing their prices (ex.
