Product & Service
Product
Tangible Product
(Physical Object)
Exp:Computer &Smartphone
Intangible Product
(thing that cannot be touched and seen)
Exp:Service
Service
Consumer Product
Shopping Product
-a fair degree of pre-planning,information search and price comparison and the purchases are made less frequently.
Exp:Laptop,Airlines
Convenience Goods
-the purchase of these goods requires very little effort and are often relatively inexpensive.
Exp:Coca-Cola
Specialty Goods
-often characterized by extensive search and an extreme reluctance to accept substitutes for the choose product.
Exp:Rolex watch
Unsought Goods
-product that the consumer does not actively seek out and may not even be aware of them.
Exp:insurance
Characteristics of
services
Variability
-the inevitable differences in a service provider's performances from one day to the next.
Inseparability
-the fact services cannot be separated from their providers.Exp:Hair cut.
Perishability
-that services cannot be stared for later sale or use.Exp:Airline
Intangibility
-that services cannot be seen,tasted,felt,heard,or smelled before they are purchased.Exp:Pet care
Brand Equity
Branding
Branding can be described as the personality
of the product.such as name,team,sign or symbol.
Product line and mix
Product Line
-a group of brands that are closely related in terms of their functions and benefits they provides.
Product Mix
-total set of brands marketed in a company.
1)Individuals brands
-individual,unique brand name of each product.
2)Family brands
-multiple items under the same brand name.
3)Store brands
-brands that are created and owned by a certain retailer or distribute.
4)Corporate brands
-corporate is used as a product brand name.
5)Generic brands
-no name at all on the product and is white and black.
6)Licensing
-An agent in which one firm sales another firm to right to use the brand.
7)Co-branding
-an agreement between two brands.
8)Ingredient brand
-a form of co-branding in which branded materials are used as ingredients or components parts of another branded.