Week 8 notes - products & brands

Question 1

Commodities (type of product)

Answer 1

Basic physical products, little variation. Often raw materials for production eg wheat crude oil, corn, sugar cane, iron ore etc.

Question 2

Product

Answer 2

Anything that can be offerred to a market for attention, acquisition, use or consumption that might satisfy a want or need.

Question 3

Goods marketing (type of product)

Answer 3

Physical (or tangible) products.

Question 4

Organisations marketing (type of product)

Answer 4

Controlling attitudes / behavior of target consumers toward an org.

Question 5

Places marketing (type of product)

Answer 5

Controlling attitudes to a place. Eg tourism, conventiions, business.

Question 6

Services (type of product)

Answer 6

An activity, benefit or satisfaction offered for sale that is essentially intangible & does not result in the ownership of anything.

Question 7

Events & experiences marketing (type of product)

Answer 7

Marketing experiences or the experience of a special event as a product.

Question 8

Ideas marketing (type of product)

Answer 8

Marketing to influence behaviour or attitude toward ideas. Social marketing.

Question 9

Industrial products (def & 3types)

Answer 9

products bourght for further processing or for use in conducting business.

3 types - materials / parts - capital items - supplies & services.

Question 10

3 levels of product

Answer 10

Core - what the customer is really buying eg with a blackberry it’s connectivity.

Actual - Feature supplying the core value. Brand name, quality level, packaging, design.

Augmented product - services & benefits that increase value & satisfaction eg warranty, delivery.

Question 11

Product & service decisions for actual products - product attributes

Answer 11

Quality - performance level & consistency in meeting the customer need.

Features - used to differentiate from competition.

Style & design - appearance & how the needs are satisfied.

Question 12

Product & service decisions for actual products - branding

Answer 12

Name, sign, symbol identifying products and differentiating them from competitors

Question 13

Product & service decisions for actual products - packaging

Answer 13

Holds & protects.

Describes, sells/promotes & differntiates from competition.

Question 14

Product & service decisions for actual products - Labelling

Answer 14

Identifies & describes product/brand.

Promotes & supports positioning.

May need to meet legal requirements.

Question 15

Product & service decisions for augmented products

Answer 15

Services that augment a product. Increasingly a source of differentiation.

Question 16

4 special challenges for services marketing

Answer 16

Intangibility - cannot be seen before purchase.

Inseparability - produced & consumed at same time

Variability - quality depends on who produces

Perishability - services exist upon production.

Question 17

New product process

Answer 17

Idea
Screening
concept Development
Strategy 
Bus analysis
Product development
Test marketing
Commercialisation