ch 7 and 8 terms Flashcards
define product
anything offered to market to satisfy want/need
define service
activity, benefit, satisfaction offered that is intangible and does not give buyer ownership
three levels of production
core customer value
actual product
augmented product
define core customer value
what customers look for in product
define actual product
brand, quality, packaging, features of purchased item
define augmented product
delivery, support, warranty, after sale service
describe “Convenience Market Consideration”
frequent buy, low customer consideration
low price
convenient distribution
mass promo from producer
ex. toothpaste
define “Shopping Market Consideration”
less often buy, lots of prep before
higher price
selective distribution
promo from producer and reseller
ex. furniture
define “Speciality Market Consideration”
strong brand preference
special buying effort
highest price
exclusive distribution
carefully targeted promo from producer and reseller
ex. Rolex
define “Unsought Market Consider-tion”
little awareness and little/negative interest
price and distribution vary
aggressive promo from distributor and seller
ex. Life Insurance, Innovative products
what are industrial products
goods bought for use in conducting business
-raw materials
-capital items (installation, repairs)
-supplies and services (supplies, legal)
define organization marketing
efforts to change percection of org
define person marketing
efforts to change perception of person/ppl
define place marketing
efforts to change behaviours toward specific places
define social marketing
encourage behaviour to create individual and societal wellbeing
