After examining customer-driven marketing strategy, we now take a deeper look at the marketing mix: the tactical tools that marketers use to implement their strategies and deliver superior customer value. The product and brand are usually the first and most basic marketing consideration. We start with a seemingly simple question: What is a product? In this and the next chapter, we study how companies develop and manage products and brands. | Product And Services LECTURE-13 1 Product, Services, and Experiences Product and Services Decisions Services Marketing Topic Outline After examining customer-driven marketing strategy, we now take a deeper look at the marketing mix: the tactical tools that marketers use to implement their strategies and deliver superior customer value. The product and brand are usually the first and most basic marketing consideration. We start with a seemingly simple question: What is a product? In this and the next chapter, we study how companies develop and manage products and brands. 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 Products include more than just tangible objects, such as cars, computers, or mobile phones. Broadly defined, products also include services, events, persons, places, organizations, ideas, or a mixture of these. Throughout this text, we use the term product broadly to include any or all of these entities. Thus, an Apple iPhone, a Toyota Camry, and a Caffé Mocha at Starbucks are products. But so are a trip to Las Vegas, Schwab online investment services, your Facebook page, and advice from your family doctor. Because of their importance in the world economy, we give special attention to services. Services are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples include banking, hotel services, airline travel, retail, wireless communication, and home-repair services. We will look at services more closely later in this chapter. 3 What Is a Product? Experiences represent what buying the product or service will do for the customer | Product And Services LECTURE-13 1 Product, Services, and Experiences Product and Services Decisions Services Marketing Topic Outline After examining customer-driven marketing strategy, we now take a deeper look at the marketing mix: the tactical tools that marketers use to implement their strategies and deliver superior customer value. The product and brand are usually the first and most basic marketing consideration. We start with a seemingly simple question: What is a product? In this and the next chapter, we study how companies develop and manage products and brands. 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 Products include more than just tangible objects, such as cars, .
