7. What Satisfies Consumers’ Needs and Wants? Products Anything that can be Offered to a Market to Satisfy a Need or Want Persons Places Organizations Ideas Information Services Activity or Benefit Offered for Sale That is Essentially Intangible and Does Not Result in the Ownership of Anything
11. Segmentation and Target Marketing #1 #2 Market Segmentation: Divide the market into segments of customers Target Marketing: Select the segment to cultivate
15. Value and Satisfaction If performance is lower than expectations, satisfaction is low. If performance is higher than expectations, satisfaction is high. Expectation Performance 8 10 Expectation Performance 10 8
The combination of tangible products, particular people, and certain activities in a particular place creates an experience (e.g., Disneyland) We are moving toward being a less manufacturing-based society and a more service-oriented society.
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