AFM131 Chapter 15: Module-5

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: David H A

Document Summary

Developing total product offer: the total product offer (value package) is everything customers evaluate when deciding to buy something, tangible, product itself, its package, intangible, co(cid:373)pa(cid:374)y"s reputatio(cid:374, image created by advertising. Product lines and product mix: product line is group of products that are physically similar or intended for similar market, face similar competition, may have several competing brands, product mix is combination of product lines offered by organization. Product differentiation: creation of real or perceived product differences, creative mix of branding, pricing, advertising, and packaging. Growing importance of packaging: packaging may make use of strategy called bundling, combines goods and/or services for single price, make sure pri(cid:272)e is(cid:374)"t too high, do(cid:374)"t put too (cid:373)a(cid:374)y produ(cid:272)ts together. Branding: name, symbol, design (or combination) that identifies good or service of company, gives products distinction that makes them attractive to customers, for (cid:271)uyer, (cid:271)ra(cid:374)d (cid:374)a(cid:373)e .