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PRODUCT, SERVICES & STRATEGY (WHAT IS PRODUCT? (Types of Products…

- - - - use
      - acquisition
      - consumption
      - attention
      - might satisfy a want/need
  - - - activities,benefits / satisfaction offered
        
        for a sale that are essentially intagible
        
        do not result in the ownership of anything
  - - - Capital Items
      - Raw materials/ Parts
      - Supplies/Services
- - - - Upward Stretch
        
        Adds prestige to current products
        
        Earns higher margins
      - Downward Stretch
        
        Retaliates against competitor's attack at upper end
        
        Capitalizes on faster growth at lower end
        
        Prevents competitive entry
- - - - High level of consumer brand awareness & loyalty
      - More leverage in bargaining with resellers
      - More easily launch line & brand extensions
      - Defense against fierce price competition
  - - - Selection
      - Protection
    - - Manufacturer's brand
      - Private brand
      - Licensing
      - Co-branding
    - - Benefits
      - Beliefs & Values
      - Attributes