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INTRODUCTION TO MARKETING, THE PRODUCT, THE PRICE, The promotion - Coggle…
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THE PRODUCT
The Meaning of Product
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The product concept now includes the services that accompany the sale, and thus
We have come close to a definition that is useful to
marketing
Product Classification
Products can be classified into three groups according to their durability or according to how
tangible be.
• Nondurable goods are tangible goods that are generally consumed in
one or more times they are used. Examples of this are beer, soap and salt
Durable goods are tangible goods that usually survive use. The
examples include refrigerators, machine tools, and clothing.
• Consumer goods. Consumer goods are those bought by
final consumers for their own consumption. In general,
Marketers classify these goods based on the buying habits of the
consumer.
Common use goods are consumer goods that the customer usually
buy frequently, immediately and with minimal effort in comparison and purchase. Examples include tobacco,
soap and newspapers. Common use property can be subdivided into
basic goods, impulse and emergency.
Basic goods are those that consumers buy from
on a regular basis, like ketchup, Heinz, or Ritz cookies.
Emergency goods are purchased when the need is urgent:
umbrellas during a downpour, or boots and shovels during a rainstorm
snow. Manufacturers of emergency goods place them in many
points of sale, to avoid losing this example: the moment when the
client needs them
Comparison goods are consumer goods that often spend
through a selection process during which the client compares them in
as to its suitability, quality, price and style.
. Product Life Cycle
Introduction, growth, maturity and decline.
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Growth Stage
sales grow rapidly,
competitors enter the market in large numbers because prospects
of the profits are extremely attractive.
Maturity Stage
accentuation of competition, reduction of
sales and profit declines usually this stage is the longest
previous.
THE PRICE
Objectives of Pricing
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• Situation oriented
Two closely related goals: stabilizing prices and dealing with
competition, are the least aggressive goals.
Price stabilization is often the goal in industries where the product is highly standardized (for example, steel and large chemicals
volumes) and a large company
the price is the amount of money or
other objects with utility to satisfy a need that is required to acquire
Remember that utility is the attribute that has the ability to
satisfy wishes.
The promotion
The promotion
Modern marketing requires more than just developing a good product,
set an attractive price and make it available to your target customers.
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PROMOTIONAL TOOLS
Advertising:
Any non-personal paid form of presentation and promotion
of ideas, goods or services by a well-defined sponsor.
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Public relations:
Building good relationships with diverse
company audiences, creating a good "corporate image," and
handling or denying rumors, stories or negative events.
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