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Principles of Marketing
Product, Services, and Brand: Building Customer Value

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

Content

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

What Is a Product?

Marketing-mix planning begins with formulating an offering that brings value to target customers

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

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 • Soap • Toothpaste

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

What Is a Product?

Products, Services, and Experiences Service is a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in ownership • Doctor’s exam • Legal advice

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

What Is a Product?

Products, Services, and Experiences Experiences represent what buying the product or service will do for the customer • Disney • Toys “R” Us

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

What Is a Product?

Products, Services, and Experiences

Today it’s all about the experience you live with a brand!

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

What Is a Product?

Levels of Product and Services
Augmented product
Delivery and credit

Each level adds more customer value

Actual product
Installation Brand name Quality

Post-sale service

Core Benefit
Design Warranty

Features

Packaging

Commercial and Marketing Management II

© 2013 Jane Rodríguez del Tronco

What Is a Product?

Product and Service Classifications
•

Consumer products are products and services for personal consumption Industrial products are products purchased for further processing
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