Finals Flashcards
A general term use for both goods and services
Product
An item that satisfies a need or a desire.
Product
Is another important feature for a product.
Branding
Is a marketing practice in which a company creates a name, symbol, or design that is easily identifiable as belonging to the company
branding
It helps the clients or customer what to expect in the company
Branding
A factor that us shown ro be the basis of why one product is better than its comperitors
Unique Selling Peopisition (USP)
This characteristics helps solidify a company’s market position and allow them to stand apart from competition
USP (unique selling proposition)
3 Product Classification
Tangible products
Intangible products
Services
These are items with an actual physical presence
tangible products
Items that has no physical presence but can be felt indirectly.
Ex. Software
Intangible product
an intangible products but they are the result of an economic activities that dies not result in ownership.
Service
Items that are used directly by the end user such as food, clothing, cars, etc.
consumer goods
Services that are for the benefit of end user directly such as education
consumer services
Items that act as part of another company’s operations such as machinery parts
producers goods
services that support another company’s operation such as accounting, hr
producer services
He proposed one way of understanding product benefits in his popular acadenic work “principles of marketing”
Philip Kotler
The first level to be defined and explored
Core benefit
