Understanding product decisions in marketing is crucial for a company's success. This includes defining core, actual, and augmented products, leveraging product differentiation and USPs, making informed decisions on product attributes, and the impact of branding. Packaging, labeling, and supplementary services also play a significant role in enhancing customer value and satisfaction. Strategic management of product lines and optimizing the product mix are essential for market success.
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The primary benefit or service provided to consumers
Features
Additional characteristics that enhance the product's appeal
Design
Combines form and function to make the product more attractive and useful
Additional services or benefits that accompany the product
A specific benefit or feature that makes a product distinct and attractive to its target market
Quality
The product's ability to satisfy stated or implied customer needs
Features
Additional characteristics that enhance the product's appeal
Design
Combines form and function to make the product more attractive and useful
The unique name, symbol, or design that identifies and differentiates a product from others
Creating a memorable impression on consumers and building brand loyalty
Enhancing user experience, attracting consumer attention, and reinforcing brand identity
Goes beyond functional role to enhance product differentiation
Provides product information and contributes to brand's visual appeal
Enhancing overall value proposition to the customer
Customer Support
Improving user experience and providing reassurance
Warranties
Adding value and building trust
Evaluating product line's length and making decisions based on performance and market trends
Adding more items within the present range to target more customer segments
Extending the product line to include items at a higher or lower end than the current range
The total set of products that a company offers for sale
Width
The number of different product lines
Length
The total number of products
Depth
The number of variations within each product
Consistency
How closely related the various product lines are in terms of end use, production requirements, or distribution channels
00
In a company's marketing strategy, ______ decisions are crucial for choosing and creating what's offered to customers.
Product
01
A smartphone's ______ product is communication, while its ______ product may involve a warranty or customer support.
core
augmented
02
Definition of Product Differentiation
Strategy to make a product stand out by highlighting unique features or benefits.
