Objective 1: Classification of products and services
Source: “Pay now, die later: Consumers urged not to delay that final decision,” Marketing News ; Chicago; Oct 24, 1994; by Shermach , Kelly ; Volume: 28 Issue: 22 Start Page: 1
Source: “Pay now, die later: Consumers urged not to delay that final decision,” Marketing News ; Chicago; Oct 24, 1994; by Shermach , Kelly ; Volume: 28 Issue: 22 Start Page: 1
Objective 1: Classification of Products Industrial products also include business services, such as landscaping, technology, food services, or custodial.
Objective 1 : Classification of Products and Services In addition to tangible products and services, in recent years marketers have broadened the concept of a product to include other market offerings—organizations, persons, places, and ideas. Organizations often carry out activities to "sell" the organization itself People can also be thought of as products Today's presidents market themselves Place marketing involves activities undertaken to create, maintain, or change attitudes or behavior toward particular places. Ideas can also be marketed
Marketers make product and service decisions at three levels: Individual product decisions Product line decisions Product mix decisions
Objective 2 : Company decisions regarding their individual products and services Product Quality is one of the marketer's major positioning tools Siemans defines quality this way: "Quality is when our customers come back and our products don't." Total quality management (TQM) is an approach in which all the company's people are involved in constantly improving the quality of products, services, and business processes See Active Figure 9.2
Objective 3: Branding Strategy
Objective 3: Branding Strategy Primary function of the package was to contain and protect the product If you can’t make the product better – improve the packaging Labeling The Federal Trade Commission Act of 1914 held that false, misleading, or deceptive labels or packages constitute unfair competition. Can’t promise everything
For example, Nike produces several lines of athletic shoes BMW wants to move customers up from it's 3-series models to 5- and 7-series models
Objective 4: 4 characteristics that affect the marketing of a service For example, the beauty line breaks down into makeup, skin care, bath and beauty, fragrance, and outdoor protection products Width: Procter & Gamble markets a fairly wide product mix consisting of 250 brands organized into many product lines.
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