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Products and services - Coggle Diagram
Products and services
Product
Anything that is capable of satisfying customer needs
Goods
Branding
Create a name, design which are easily identifiable
Personality and recognition of products
Branding methods
Family brand
Individual brand
Corporate branding
Generic brand
Licensing
Co-branding
Ingredient branding
Tangible
Physical objects
Has useful life and life cycle
Relevant (immediate use for consumer)
Functionable & good quality
Communicated to potential users
Intangible
Services
Characteristic
Perishability
Variability
Inseparability
Not result in the ownership of services
Types of consumer goods
Shopping goods
Less frequently purchased
Specialty goods
Luxury goods
Unsought goods
Not actively seek for
Convenience goods
Frequently purchased goods
Industrial goods
Purchased by manufacturer to produce end product
Product mix
Total goods / products lines a single company offers
Product line
Same category of goods a company creates under single brand
Brand equity
Value of a brand