Core Customer and Marketplace Concept Needs, wants, and demands Exchange, transactions, and relationships Markets Core Marketing Concepts Products, services, and experiences Value, satisfaction, and quality
Marketing Mix M ARKETING M IX Product Price P ROMOTION Place Customer Solution Customer Cost Communication Distribution
What Is a Product ? Features : qualities, tangible and intangible Benefits : the want-satisfying value Value package : bundle of value-adding attributes Features ? Benefits ?
Value & Benefit Value Value is the relative comparison of a products benefits versus its costs Benefit Benefits include the functions of the product and the emotional satisfactions associated with owning, experiencing or possessing it Value = Benefits Costs
What is Marketed? Goods Services Events & Experiences Persons Places & Properties Organizations Information Ideas
Good s & Servi ces Capital ItemsShopping Goods Expense ItemsSpecialty Goods Convenience Goods
The Product Mix Product mix is a group of products that a firm makes available for sale (e.g. ) Product line is a group of similar products intended for a similar group of buyers who will use them in similar ways