Lecture Principles of Marketing - Chapter 8: Product, services, and brands: Building customer value

Lecture Principles of Marketing - Chapter 8 presents the product, services, and brands: Building customer value. After studying this chapter you will be able to understand: What is a product? Product and services decisions, services marketing, branding strategy: building strong brands.
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Lecture Principles of Marketing - Chapter 8: Product, services, and brands: Building customer value i t ’s good  and  good for you Chapter Eight Product, Services, and Brands: Building Customer Value Copyright © 2012 Pearson Education, Inc. 8-1 8-1 Publishing as Prentice Hall Product, Services, and Branding Strategy • Topic Outline • What Is a Product? • Product and Services Decisions • Services Marketing • Branding Strategy: Building Strong Brands Copyright © 2012 Pearson Education, Inc. 8-2 Publishing as Prentice Hall What Is a Product? • Products, Services, and Experiences Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want Service is a product that consists of activities, benefits or satisfaction that is essentially intangible and does not result in the ownership of anything Copyright © 2012 Pearson Education, Inc. 8-3 Publishing as Prentice Hall What Is a Product? • Products, Services, and Experiences Experiences represent what buying the product or service will do for the customer Copyright © 2012 Pearson Education, Inc. 8-4 Publishing as Prentice Hall What Is a Product? • Levels of Product and Services Copyright © 2012 Pearson Education, Inc. 8-5 Publishing as Prentice Hall What Is a Product? • Product and Service Classifications Copyright © 2012 Pearson Education, Inc. 8-6 Publishing as Prentice Hall What Is a Product? • Product and Service Classifications • Consumer products are products and services for personal consumption • Classified by how consumers buy them – Convenience products – Shopping products – Specialty products – Unsought products Copyright © 2012 Pearson Education, Inc. 8-7 Publishing as Prentice Hall What Is a Product? • Product and Service Classifications Convenience products consumer products and services that the customer usually buys frequently, immediately, and with a minimum comparison and buying effort – Newspapers – Candy – Fast food Copyright © 2012 Pearson Education, Inc. 8-8 Publishing as Prentice Hall What Is a Product? • Product and Service Classifications Shopping products consumer products and services that the customer compares carefully on suitability, quality, price, and style – Furniture – Cars – Appliances Copyright © 2012 Pearson Education, Inc. 8-9 Publishing as Prentice Hall What Is a Product? • Product and Service Classifications Specialty products consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort • Medical services • Designer clothes • High-end electronics Copyright © 2012 Pearson Education, Inc. 8-10 Publishing as Prentice Hall What Is a Product? • Product and Service Classifications Unsought products consumer products that the consumer does not know about or knows about but does not normally think of buying • Life insurance • Funeral services • Blood donations Copyright © 2012 Pearson Education, Inc. 8-11 Publishing as Prentice Hall What Is a Product? • Product and Service Classifications Industrial products products purchased for further processing or for ...