Chapter 1: Product as a commercial factor Flashcards
How are needs originated? (3)
- Lack of something
- Conscience of this lack
- Looking for a solution
What types of products are there (6)
→ Tangible products (bag)
→ Untangible products (experiences)
→ A Person (Harry Styles)
→ A place (valencia)
→ An institution (red cross)
→ An idea (road safety campaign)
What is the most important part that you need to explain to the customer?
Expected Benefit
What are the 4 components of the satisfaction degree
- Healthy Products
- Desirable Products
- Deficient Products
- Attractive Products
Examples of healthy products
school, medication, sports
Examples of attractive products
Ikea furniture, Zara clothes
Examples of deficient products
a camping, products from a china superstore
Examples of desirable products
a villa, Cartier watch
What does the product mix exist out of
Basic Product + Attributes
What types of attributes are there? (14)
Shape
Time
Place
Quantity
Preparation
Combination
Automation
Flexibility
Simplification
Security
Safety
Quality
Design
Price
Explain the attribute Shape
Shape, outline, color, the finish. This can produce different meanings for the consumers
Explain the attribute Time
The time in which the product is offered to the consumer can change the meaning of it, setting up
Explain the attribute Place
Finding a product at one point of sale or another could have different customer perceptions.
Explain the attribute Quantity
The quantity of the product that is offered to the consumer can change the meaning of the product, the target market, and the marketing to carry out.
Explain the attribute Preparation
The preparation time is a decision-making issue
Explain the attribute Combination
The combination of individual products can have different meanings or ways than if they were by themselves.
Explain the attribute Automation
The automation levels of the product will determine its significance to the customer.
Explain the attribute Flexibility
Elements that allow different utilities for the same product
Explain the attribute Simplification
Everything that reduces the risk in its use.
Explain the attribute Quality
Level to which the product gives the Benefits that the customer expects to find. In exchange of the effort, the customer makes for buying it.
What are the elements that define quality (8)
Functionality
Uniformity
Durability
Reliability
Repairability
Style
Service
Front Office
Explain the attribute Price
Price is a part of the quality concept.
The company must define the product quality/price relation that they want to offer their customers. This relation will define the complete design of the products.
Explain the attribute Design
Design is everything that helps the product perform its function and affects its external appearance. This external appearance shown to the customer has a decisive influence, and this can persuade the customer to buy it.
Which 2 basic functions must design fulfill
Be adapted to what the product means
Cause desire of the consumer
