Ex: Furniture, clothing or cars. Specialty products: A consumer product with unique characteristics or brand identification for which a significant group of buyers Is willing to make a special purchase effort. Ex: Designer clothes, Alongshore or gourmet foods. Unsought products: A consumer product that the consumer either does not know about or known about but does not normally consider buying. Ex: Insurance and blood donation. 2. Compare and contrast Industrial products and consumer products.
CABS: Communication; Reflective Thinking) Consumer products is a product bought by fall consumers for personal consumption Industrial product is a product bought by Individuals and organizations for further processing or for use In conducting a business. 3. Explain the importance of product quality and discuss how marketers use quality to create customer value. (CABS:Communication) Product quality is the characteristics off product of service that bear on its ability to satisfy stated or Implied customer needs.
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Quantity affects product or service performance, thus it is closely linked to customer value and satisfaction. 4. What is a brand? How does branding help both buyers and sellers? (CABS: Communication) identifies the products or services of 1 seller of group of sellers and differentiates them from those of competitors. Brand name help consumers identify products, brand also say something about product quality and consistency, brand also gives the seller several advantages, branding helps the seller to segment markets 5. What is a product line?
Discuss the various product line decisions marketers make and how a company can expand its product line. (CABS: Communication) Product line is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within given price rangers. A company can expand its product line in 2 ways: by line filling or line stretching. 6. Describe the four characteristics of services that marketers must consider when designing marketing programs.
How do the services offered by a doctor’s office differ from those offered by a bank? (CABS: Communication, Reflective Thinking) Service intangibility: Services cannot be seen, tasted, felt, heard or smelled before they are bought Service inseparability: Services are produced and consumed at the same time and can’t be separated from their providers Service variability: The quantity of services may vary greatly depending on who provides them and when, where and how they are provided. Service permissibility: Services can’t be stored for later sale or use.