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3. Products A product is any combination of goods and services offered to satisfy the needs and wants of consumers .
5. The Core Product What the consumer actually buys in terms of benefits . The Actual Product Built around the core product, consists of the brand name, features, packaging, parts, and styling Augmented Factor Additional services and benefits that surround the first two levels of the product (customer services, warranty)
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7. Characteristic Infrequent Infrequent Usually frequent Frequency of purchase High High Usually low Price No Yes No Price and quality compared? Considerable Considerable Very little Time spending the purchase Can’t generalize; dependent Considerable Very little Time and effort devoted by consumer to shopping Specialty Shopping Convenience Characteristic
8. Marketing Consideration Joint responsiblity Retailer Producer Advertising responsible High High Low Gross margin High Lower High Stock turnover Important Important Relative Importance of retailer Short to very short Short Long Length of channel Specialty Shopping Convenience Mark. cons
9. Brand Name, term, design, symbol, word or any other feature that identified to distinguish one goods or service from others in the market.
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11. Ansoff’s Matrix (Product/Market Matrix) Diversification Market Penetration Market Development Product Development Existing Markets New Markets Existing Products New Products
