Lecture Principles of Marketing - Chapter 8 presents the product, services, and brands: Building customer value. After studying this chapter you will be able to understand: What is a product? Product and services decisions, services marketing, branding strategy: building strong brands. | Chapter Eight Product, Services, and Brands: Building Customer Value 1 Product, Services, and Branding Strategy What Is a Product? Product and Services Decisions Services Marketing Branding Strategy: Building Strong Brands Topic Outline 2 What Is a Product? Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want Service is a product that consists of activities, benefits or satisfaction that is essentially intangible and does not result in the ownership of anything Products, Services, and Experiences Note to Instructor This Web link is a great example of a store that creates experiences: Jordan’s Furniture in the Boston. These furniture stores include an Imax theater, an amusement park quality motion ride, a trapeze school, and Mardi Gras parades. You can visit their stores through their Web sites. 3 What Is a Product? Experiences represent what buying the product or service will do for the customer . | Chapter Eight Product, Services, and Brands: Building Customer Value 1 Product, Services, and Branding Strategy What Is a Product? Product and Services Decisions Services Marketing Branding Strategy: Building Strong Brands Topic Outline 2 What Is a Product? Product is anything that can be offered in a market for attention, acquisition, use, or consumption that might satisfy a need or want Service is a product that consists of activities, benefits or satisfaction that is essentially intangible and does not result in the ownership of anything Products, Services, and Experiences Note to Instructor This Web link is a great example of a store that creates experiences: Jordan’s Furniture in the Boston. These furniture stores include an Imax theater, an amusement park quality motion ride, a trapeze school, and Mardi Gras parades. You can visit their stores through their Web sites. 3 What Is a Product? Experiences represent what buying the product or service will do for the customer Products, Services, and Experiences Note to Instructor This Web link is a great example of a store that creates experiences: Jordan’s Furniture in the Boston. These furniture stores include an Imax theater, an amusement park quality motion ride, a trapeze school, and Mardi Gras parades. You can visit their stores through their Web sites. 4 What Is a Product? Levels of Product and Services Note to Instructor Core benefits represent what the buyer is really buying. Actual product represents the design, brand name, and packaging that delivers the core benefit to the customer. Augmented product represents additional services or benefits of the actual product. It is a good idea for the students to bring in some products so the class can discuss the levels of product and services. Products including Gatorade, toothpaste, facial moisturizer or cosmetics work well in this discussion. You can often find augmented product features on the product’s Web sites including games, features and support. 5
