What are the characteristics of products and how do marketers classify products
What are the characteristics of products, and how do marketers,classify products.
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Transcript of What are the characteristics of products, and how do marketers,classify products.
Product Levels: The
Customer-Value Hierarchy
• The fundamental level is the core benefit: the service or benefit the customer is really buying.
• At the second level, the marketer must turn the core benefit into a basic product. Thus a hotel
• At the third level, the marketer prepares an expected product, a set of attributes and conditions
• At the fourth level, the marketer prepares an augmented product that exceeds customer expectations.
• At the fifth level stands the potential product, which encompasses all the possible augmentations
Marketers classify products on
the basis of durability,
tangibility, and use
(consumer or industrial).
• Staples are convenience goods consumers
• Impulse goods are purchased without any planning or
search effort.
• Emergency goods are purchased when a need is urgent.
Shopping goods are those the consumer characteristically compares on such bases as
suitability, quality, price, and style. Homogeneous shopping goods are similar in quality but different enough in price to
justify shopping comparisons.
Heterogeneous shopping goods differ in product features and services that may be more important than price.
INDUSTRIAL-GOODS CLASSIFICATION
Materials and parts are goods that enter the manufacturer’s product completely.
C a p i t a l i t e m s a r e l o n g - l a s t i n g g o o d s t h a t f a c i l i t a t e d e v e l o p i n g o r m a n a g i n g t h e
f i n i s h e d p r o d u c t .
Supplies and
business services
S u p p l i e s a n d b u s i n e s s s e r v i c e s a r e s h o r t - t e r m g o o d s a n d s e r v i c e s t h a t f a c i l i t a t e d e v e l o p i n g
o r m a n a g i n g t h e f i n i s h e d p r o d u c t .