Product is anything that can be offered to a market fot attention, acquisition, use, or consumption that might satisfy a want or need. Service is an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything.
Core Customer Value Actual Product Augmented Product
Consumer Product A product bought by final consumers for personal consumption. Convinience Product A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
Shooping Product A consumer product that the customer, in the process of selecting and purchasing ussually compares on such attributes as suitability, quality, price, and style. Speciality Product A consumer product with unique characteristic or brand identification for which a significant group of buyers is willing to make special purchase effort.
Unsought Product A consumer product that the customer either does not know about or knows about but does not normally consider buying. Industrial Product A product bought by individuals and organizations for further processing or for use in conducting a business.
Product Attributes BrandingPackagingLabeling Product Support Services
a brand is a “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” - American Marketing Association (AMA) -
Packaging The activities of designing and producing the container or wrapper for product Labeling A range from simple to complex graphics that are use to indentifies and describe the product, and also promote the brand.
Augmented features of a product that deals mostly on pre-purchase and post-purchase of a product, including: customer services, after sales service, warranty, delevery and credit, etc
Product Line Product Line A group of products that are closely realted becouse they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price ranges. Product Mix Product Mix The set of all product lines and items that a particular seller offers for sale
Differential effect that brand knowledge has on consumer response to the marketing of that brand
Differential effect – If no differences occur, then the brand-name product can essentially be classified as a comodity or a generic version of the product.
Brand Knowledge – Those differeces in response are a result of customers’ knowledge about the brand, that is, what they have learned, felt, seen, and heard about the brand as a result of their experience over time
Consumer response to the marketing – Customers’ differential responses, which make up brand equity, are reflected in perception, preferences, and behaviour related to all aspects of brand marketing.