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Irwin/McGraw-Hill & Dr. Chen8-1
Product and Service
Continuum
Irwin/McGraw-Hill & Dr. Chen8-2
The Good/Services Continuum
Target
Market
Promotion PricePlaceProduct
Product idea Brand Package Warranty
None, limited
full, extendedPhysical
good/services
Features
Benefits
Quality level
Accessories
Installation
Instruction
Product line
Type of Brand:
Individual or
family
Manufacturer or
dealer
Protection
Promotion
Enhancement
Irwin/McGraw-Hill & Dr. Chen8-3
What Is a Product?
 Product:
 An idea, a physical entity (a good), a
service, or any combination of the three
that is an element of exchange to satisfy
individual or business objectives .
Irwin/McGraw-Hill & Dr. Chen8-4
Types of Products
Goods:
Physical products
with form and
substance
Services:
Non-physical products
usually involving
performance
Consumer Products:
Those used by
consumers for their
own use and
satisfaction.
Business Products:
Those used in the
running of a business
or in the manufacture
of products for resale.
Irwin/McGraw-Hill & Dr. Chen8-5
The Good/Services Continuum
Paper
Truck
Production
equipment
Auto repair
Uniform rental
Restaurant
Healthcare
Haircut
Accounting
Goods Goods
(Intangible,
Perishable,
Inseparable, and
Variable in quality)
(Tangible,
Storable,
Separable, and
Standardized in quality)
Irwin/McGraw-Hill & Dr. Chen8-6
Canned
foods
Ready-
made
clothes
Auto-
mobiles
Carpets Rest-
aurant
meals
Repairs:
auto, house,
Air
travel
Insurance,
Consulting,
Teaching
MOSTLY GOODS MOSTLY SERVICES
The Good/Services Continuum
Irwin/McGraw-Hill & Dr. Chen8-7
Product Differentiation
 Product
Differentiation:
 Exists when a firm’s
offerings differ or are
perceived to differ from
those of competing firms
on any attribute, including
price.
Irwin/McGraw-Hill & Dr. Chen8-8
Goods and Services
 Goods:
 Physical products.  Services:
 Nonphysical products.
Irwin/McGraw-Hill & Dr. Chen8-9 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin—for use only with Basic Marketing
Differences in Goods and Services
Where produced
(storing and transporting)
Tangibility
When produced
relative to when
consumed
Balancing supply and
demand
Contact with customer
by producer of
product
Differences
Irwin/McGraw-Hill & Dr. Chen8-10
Characteristics and Strategies for Services
Service Characteristic Service Strategy
Intangible Associate service with
something tangible
Perishable Manage demand to utilize
supply
Inseparable Capitalize advantages of
person providing service
Variable Standardize service delivery
as much as possible
Irwin/McGraw-Hill & Dr. Chen8-11
Product Classes
• Two broad classes
– consumer products
– business products
• Classes help in planning marketing mix needed
• Based on how the customer views the product
– how consumers think about and shop for products
– how business/organizational buyers think about
products and how they'll be used
Irwin/McGraw-Hill & Dr. Chen8-12
Consumer and Business Products
 Consumer
Products:
 Products that are
purchased by
consumers for their
own personal use.
 Business Products:
 Products purchased by a
firm or organization for its
own use.
Irwin/McGraw-Hill & Dr. Chen8-13
Types of Consumer Products
Convenience
Products
Shopping
Products
Specialty
Products
Irwin/McGraw-Hill & Dr. Chen8-14
Types of Business Products
Capital
Products
Production
Products
Operational
Products
Irwin/McGraw-Hill & Dr. Chen8-15
Business Product Classes
Irwin/McGraw-Hill & Dr. Chen8-16
Product Components
Product
Components
Product Features
• Quality
• Design
• Branding
• Packaging
Service Features
• Purchase services
• Usage services

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Godds services continuum

  • 1. Irwin/McGraw-Hill & Dr. Chen8-1 Product and Service Continuum
  • 2. Irwin/McGraw-Hill & Dr. Chen8-2 The Good/Services Continuum Target Market Promotion PricePlaceProduct Product idea Brand Package Warranty None, limited full, extendedPhysical good/services Features Benefits Quality level Accessories Installation Instruction Product line Type of Brand: Individual or family Manufacturer or dealer Protection Promotion Enhancement
  • 3. Irwin/McGraw-Hill & Dr. Chen8-3 What Is a Product?  Product:  An idea, a physical entity (a good), a service, or any combination of the three that is an element of exchange to satisfy individual or business objectives .
  • 4. Irwin/McGraw-Hill & Dr. Chen8-4 Types of Products Goods: Physical products with form and substance Services: Non-physical products usually involving performance Consumer Products: Those used by consumers for their own use and satisfaction. Business Products: Those used in the running of a business or in the manufacture of products for resale.
  • 5. Irwin/McGraw-Hill & Dr. Chen8-5 The Good/Services Continuum Paper Truck Production equipment Auto repair Uniform rental Restaurant Healthcare Haircut Accounting Goods Goods (Intangible, Perishable, Inseparable, and Variable in quality) (Tangible, Storable, Separable, and Standardized in quality)
  • 6. Irwin/McGraw-Hill & Dr. Chen8-6 Canned foods Ready- made clothes Auto- mobiles Carpets Rest- aurant meals Repairs: auto, house, Air travel Insurance, Consulting, Teaching MOSTLY GOODS MOSTLY SERVICES The Good/Services Continuum
  • 7. Irwin/McGraw-Hill & Dr. Chen8-7 Product Differentiation  Product Differentiation:  Exists when a firm’s offerings differ or are perceived to differ from those of competing firms on any attribute, including price.
  • 8. Irwin/McGraw-Hill & Dr. Chen8-8 Goods and Services  Goods:  Physical products.  Services:  Nonphysical products.
  • 9. Irwin/McGraw-Hill & Dr. Chen8-9 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin—for use only with Basic Marketing Differences in Goods and Services Where produced (storing and transporting) Tangibility When produced relative to when consumed Balancing supply and demand Contact with customer by producer of product Differences
  • 10. Irwin/McGraw-Hill & Dr. Chen8-10 Characteristics and Strategies for Services Service Characteristic Service Strategy Intangible Associate service with something tangible Perishable Manage demand to utilize supply Inseparable Capitalize advantages of person providing service Variable Standardize service delivery as much as possible
  • 11. Irwin/McGraw-Hill & Dr. Chen8-11 Product Classes • Two broad classes – consumer products – business products • Classes help in planning marketing mix needed • Based on how the customer views the product – how consumers think about and shop for products – how business/organizational buyers think about products and how they'll be used
  • 12. Irwin/McGraw-Hill & Dr. Chen8-12 Consumer and Business Products  Consumer Products:  Products that are purchased by consumers for their own personal use.  Business Products:  Products purchased by a firm or organization for its own use.
  • 13. Irwin/McGraw-Hill & Dr. Chen8-13 Types of Consumer Products Convenience Products Shopping Products Specialty Products
  • 14. Irwin/McGraw-Hill & Dr. Chen8-14 Types of Business Products Capital Products Production Products Operational Products
  • 15. Irwin/McGraw-Hill & Dr. Chen8-15 Business Product Classes
  • 16. Irwin/McGraw-Hill & Dr. Chen8-16 Product Components Product Components Product Features • Quality • Design • Branding • Packaging Service Features • Purchase services • Usage services