Product Levels: The Customer-value Hierarchy The marketers need to address five product levels. Each level adds more customer value‚and the five constitute a customer-value hierarchy. 1. Core Benefit The fundamental need or want that consumers satisfy by consuming the product or service. Example 1: In case of a car Transportation from one place to another. Example 2: The customer in search of a hotel room demand only rest and sleep from a marketer. 2. Basic Product
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at their Bristol‚ Connecticut Headquarters‚ they are greeted only by a small‚ unassuming sign that says‚ “Welcome to ESPN.” In a calculated and understated way‚ this sign is representative of the culture that pervades throughout the organization. Simply stated‚ ESPN‚ the company is about the fans and the sports‚ not ESPN. This statement offers a preview of sorts to a culture at ESPN that truly goes the extra mile in emphasizing customer satisfaction by offering its programming thru state-of the art
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gMarketing-process of moving goods and services to customers Marketing activities-product development‚ research‚ communication‚ distribution‚ pricing and service Need – Want – Demand- need is essential (food‚ shelter) want is not (car‚ laptop) demand is desire to have Exchange-a trade of values between two parties Marketing System- network that permits interaction between buyers and sellers Maslow’s hierarchy of need- a diagram showing how people seek to satisfy their needs (from physiological
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to have ESPN incorporated back in 1978‚ when it was only run by three people‚ Bill Rasmussen‚ Scott Rasmussen‚ and Ed Eagan. Now if you take a look at ESPN today‚ you’ll see one of the world’s largest broadcast corporations. The History of ESPN is a long and pretty interesting story. Like stated above‚ the history of ESPN truly begins on September 7th‚ 1978‚ when the three founders paid $91 to have the company incorporated. After deciding to go with a 24-hour broadcasting schedule‚ ESPN debuted
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3 Levels of a Product Consumers often think that a product is simply the physical item that he or she buys. In order to actively explore the nature of a product further‚ let’s consider it as three different products - the CORE product‚ the ACTUAL product‚ and finally the AUGMENTED product. This concept is known as the Three Levels of a Product. The CORE product is NOT the tangible physical product. You can’t touch it. That’s because the core product is the BENEFIT of the product that makes
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ESPN Mission Statement ESPN stands for Entertainment and Sports Programming Network. The media programming department at ESPN mission statement says “The Programming Department’s mission is to create‚ acquire‚ and schedule premier content to engage fans and maximize audiences on all platforms.” The ESPN Organization as whole mission statement is “To serve the sports fan wherever sports are watched‚ listened to‚ discussed‚ debated‚ read about or played.” Sports are watched‚ listened to‚ discussed
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Showing Enthusiasm for the Product 1Love what you ’re doing when you ’re selling a product. The popular image of a salesperson as someone willing to "sell at all costs" is not the reality across the board in sales. A good salesperson loves sales‚ is motivated by what they ’re selling‚ and transfers this enthusiasm and belief to the customer. Indeed‚ the customer is given options‚ including the one to walk away‚ in order to avoid such undue pressure. Learn how to listen to customers and to
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Uses technology in selling products: Technology plays a major role today in supporting all aspects of the selling function. Benefits include improved relationships with customers and improved processes of finding qualified prospects and turning them into customers. Technology improves the sales communications process and supports effective presentation of products and services. Understand some of the available technologies used in selling functions to make your sales organization more effective.
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What is a Product? In marketing‚ the term “product” is often used as a catch-all word to identify solutions a marketer provides to its target market. We will follow this approach and permit the term “product” to cover offerings that fall into one of the following categories: * Goods – Something is considered a good if it is a tangible item. That is‚ it is something that is felt‚ tasted‚ heard‚ smelled or seen. For example‚ bicycles‚ cellphones‚ and donuts are all examples of tangible goods
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Identify using a model the levels of a product. Kotler distinguished three components: need: a lack of a basic requirement; want: a specific requirement for products or services to match a need; demand: a set of wants plus the desire and ability to pay for the exchange. core benefit: the service or benefit the customer is really buying. Marketers as benefit provider. A hotel guest – room basic / generic product change core into basic represents all the qualities of the product : a hotel room includes
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