The Product OBJECTIVES: * Definition of Product * Product Concept * What is Branding Packaging and Labeling What is Product? A product is anything offered for sale by a firm to buyers to satisfy their wants and needs. Products may take any of the following forms: * A physical object like a toy or a kilo of pork * A service like a Ferris wheel ride or a dental check-up * A place like London or Boracay * An organization like the Knights of Columbus or the Philippine
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Making: The Three-Stage Model of Service Consumption Pre-purchase Stage Service Encounter Stage Post- encounter Stage Customers seek solutions to aroused needs Evaluating a service may be difficult Decision to buy or use a service is triggered by need arousal. What promts us to purchase? Needs. Triggers of need: Unconscius minds Physical conditions External sources Need arousal leads to attempts to find a solution. Evoked set – a set of products and brands that a consumer considers
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Solutions” of your textbook (p.468) and answer the three questions described on p.469. 1- Based strictly on the information in this case‚ how many possibilities do you see to segment the telecommunications market? In this case customers have already passed the post-purchase stage as they found their solution to their needs at the Bell Telecommunication Company. They have evaluated the experience attributes and faced some issues; therefore they have contacted a costumer service representative
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[pic][pic]Services Marketing and the Extended Marketing Mix (7P’s) What is services marketing? A service is the action of doing something for someone or something. It is largely intangible (i.e. not material). A product is tangible (i.e. material) since you can touch it and own it. A service tends to be an experience that is consumed at the point where it is purchased‚ and cannot be owned since is quickly perishes. A person could go to a café one day and have excellent service‚ and then return
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Marketing mix - Product Agenda ✦ Product ✦ Service ✦ Product life cycle ✦ Experience Aim: transform strategic decisions already take into a sustainable and attracted commercial offer. From a managerial point the key question is: how can we transform our decision‚ our value proposition into something that can be bought by the market? We have to consider that there are several models that have been suggested over time to depict from a managerial view point what marketing mix meansthey clarify the
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Ltd‚ a leading import company in Belgium‚ received the sales license of a new high-class make of shoes named Lightfoot recently. The Lightfoot was developed to significantly improve the way of today’s life style. Lightfoot will be positioned as a high-end product both in fashion style and comfort. The product will be sold via company website‚ and 5 stores located in Brussels‚ Antwerp‚ Ghent‚ Brugge and Leuven. The product will be launched to market by August 2003. The potential market for Lightfoot
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New Product Development for Microfinance: Design‚ Testing‚ and Launch Technical Note Number 2 New Product Development for Microfinance: Design‚ Testing‚ and Launch by Monica Brand ACCION International October 1998 This work was supported by the U.S. Agency for International Development‚ Global Bureau‚ Economic Growth Section‚ Microenterprise Development Office‚ through funding to the Microenterprise Best Practices (MBP) Project‚ contract number PCE-C-00-96-90004-00. i ACKNOWLEDGMENTS
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reach consumers are given below: (1) Products available for different sections of the society (2) Product adaptation according to the need of different market (3) Diversify product line product depth (4) Low priced furniture store provides reassemble furniture and casual furniture (5) Most of IKEA’s product are stylist and customized (6) Concept of flat packaging which makes it easier to consumers to transport the furniture (7) Wide range of products according to the need of customers IKEA
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Outcomes The intended learning outcomes are that by the end of this module students should be able to: • Develop a project management plan in a business context • Critically evaluate different approaches to project management • Evaluate methods of managing large scale projects. Our Intention • To give you an insight into both the theory and reality of project management • To equip you with useful skills & tools for your PM toolkit • To enable you to critically assess projects. Indicative
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The product The first market mix element is Product. A product is anything that can be offered to a market for attention‚ acquisition‚ use or consumption that might satisfy a need or want. Product decision normally base on brand name‚ functionality‚ styling‚ quality‚ safety‚ packaging‚ repairs and support‚ warranty‚ accessories and services. These product attributes can be manipulated depending on what the target market wants. Also‚ customers always look for new and improved things‚ which is
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