Products, Services, and Brands: Building Customer Value

[Pages:40]8 Chapter

Products, Services, and Brands: Building Customer Value

Course: Mkt 202 Lecturer: Emran Mohammad

Chapter Learning Outcomes

?Topic Outline

?8.1 What Is a Product? ?8.2 Product and Services Decisions ?8.3 Branding Strategy: Building Strong Brands ?8.4 Services Marketing

Ch 8 -2

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What Is a Product?

?Products, Services, and Experiences

Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want.

Service is any activity or benefit that one party can offer to another that is essentially intangible and does no result in the ownership of anything.

Experiences represent what buying the product or service will do for the customer.

Ch 8 -3

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Levels of Product

Ch 8 -4

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Product and Service Classifications

Consumer products Industrial products

Ch 8 -5

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Product and Service Classifications

Consumer products are products and services for personal consumption.

Classifications:

Convenience products Shopping products Specialty products Unsought products

Ch 8 -6

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Consumer products

Convenience products are consumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effort. ? Newspapers ? Candy ? Fast food

Ch 8 -7

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Consumer products

Shopping products are consumer products and services that the customer compares carefully on suitability, quality, price, and style. ? Furniture ? Used cars ? Appliances

Ch 8 -8

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