8. Products
Type Lecture
Completed
https://app.jungleai.com/deck/EvDwcINGAMyBnMAwT6nr/marketing---ch81-flashcards-
Flashcards multiple-choice-questions-quiz?r=m9iaHSxCYeYwBXX4JWoHrSYNOqez2U
Prac prac 2
Definition of a product
2. Product decisions
Decisions are taken on 3 levels
3. Service Marketing
4. Branding strategy: building strong brands
4.1 What is a brand
4.2 Brand equity and brand value
4.3 Brand development matrix
Definition of a product
What is a product
Anything that can be offered in a market for attention,
acquisition, use or consumption that might satisfy a need
or want
Market offerings
Products
services
persons
places
orgs
info
ideas
8. Products 1
, Service is a product that entirely exists of activities,
benefits or satisfaction and that is essentially Intangible
and does not result in the ownership of anything
More importance to experience
👉🏻
Three product levels
Levels of products and services
1. Core products / core customer
value
Problem solving benefits /
what is the person really
buying
Intangible advantages
2. Actual product
The tangible product
characteristics
Features, design, brand
name, quality level,
packaging
8. Products 2
, 3. Augmented Product
Additional services and
benefits
Delivery and credit, after-
sales service , Warranty,
product support, brand
experiences
Why is this model relevant
a product isnt just the item, it involves packaging, support,
services,…
understanding core product, businesses can ensure fundamental reason
why customers buy it
Competitive differentiation
Actual product and augmented product levels allow companies to
differentiate themselves adding value beyond core functionality
Classifications
1. Consumer products
Products bought by consumers for personal consumption
convenience
customer buys frequently, immediatly, minimum comparison and
buying effort
shopping
Less frequently purchased, compared carefully on sustainability,
quality, price and style. Customers spend time comparing
Specialty
Products that have unique characteristics or brand identification for
which a significant group of buyers is willing to make a special
purchase effort, no comparison
8. Products 3
Type Lecture
Completed
https://app.jungleai.com/deck/EvDwcINGAMyBnMAwT6nr/marketing---ch81-flashcards-
Flashcards multiple-choice-questions-quiz?r=m9iaHSxCYeYwBXX4JWoHrSYNOqez2U
Prac prac 2
Definition of a product
2. Product decisions
Decisions are taken on 3 levels
3. Service Marketing
4. Branding strategy: building strong brands
4.1 What is a brand
4.2 Brand equity and brand value
4.3 Brand development matrix
Definition of a product
What is a product
Anything that can be offered in a market for attention,
acquisition, use or consumption that might satisfy a need
or want
Market offerings
Products
services
persons
places
orgs
info
ideas
8. Products 1
, Service is a product that entirely exists of activities,
benefits or satisfaction and that is essentially Intangible
and does not result in the ownership of anything
More importance to experience
👉🏻
Three product levels
Levels of products and services
1. Core products / core customer
value
Problem solving benefits /
what is the person really
buying
Intangible advantages
2. Actual product
The tangible product
characteristics
Features, design, brand
name, quality level,
packaging
8. Products 2
, 3. Augmented Product
Additional services and
benefits
Delivery and credit, after-
sales service , Warranty,
product support, brand
experiences
Why is this model relevant
a product isnt just the item, it involves packaging, support,
services,…
understanding core product, businesses can ensure fundamental reason
why customers buy it
Competitive differentiation
Actual product and augmented product levels allow companies to
differentiate themselves adding value beyond core functionality
Classifications
1. Consumer products
Products bought by consumers for personal consumption
convenience
customer buys frequently, immediatly, minimum comparison and
buying effort
shopping
Less frequently purchased, compared carefully on sustainability,
quality, price and style. Customers spend time comparing
Specialty
Products that have unique characteristics or brand identification for
which a significant group of buyers is willing to make a special
purchase effort, no comparison
8. Products 3
