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Product (Anatomy of a product (Augmented (no effect on actual benefit,…

- - - - helps create loyalty
      - defends against competition
      - allow premium pricing
      - helps targeting
      - increases power over retailer
    - - attract customer
      - create tangible characteristics
    - - helps product evaluation
      - reduce risk in purchasing
      - easier product identification
      - create interest for product
  - - - retailers stock more lines or refuse some brands
        
        customers have too much choice, confuse
- - - - shopping
        
        limited
      - speciality
        
        extensive buyer behaviour
      - Convenience
        
        routine
      - unsought
        
        sudden emergency (burst water pipe)
        
        not normal buy （coffin)
    - - accessory
        
        re-buy situation (light equipment chairs, PCs)
      - Raw material
        
        beans and tomatoes deliver to Heinz
      - Capital
        
        extensive decision making (buildings and fixed equipment)
      - semi-finished
      - component
        
        cars on assembly line
      - suppliers and services
        
        Operating supplies (pens) maintenance services
  - - - can only be used once or few (food)
      - frequently purchase with low price, mass distribution, communication based on psychological benefits
    - - financial service
      - communication of both functional and psychological, reassure the quality and consistency
    - - infrequently purchase and expensive with specialist change of distribution and communication of function
      - Use over a long time e.g. cars
- - - - flexible endorsed approach
        
        allows variety
      - fixed endorsed approach
        
        individual brand image with a family name with same presentation
      - discreet brands
        
        indivudal product with separate name
      - monolithic approach
        
        Generic brands
        
        single brand image overs all product (supermarket
    - - deleting
        
        eliminate a poor seller
      - filter
        
        create new product to fill the gap (single-serving food, family size food)
      - extend
        
        cost efficient (risk may damage brand reputation Virgin)
  - - - corporate name and reputation
      - guarantees
      - reliability
      - performance
      - durability
      - quality
      - design
    - - packing (marketing mix)
      - labelling (barcode, adress)
      - select brand name
- - - - growth
        
        repeat purchase, build brand prefenrece
      - maturity
        
        the peak, have loyal repeat buyer , might heavy price competition and increased marketing expenditure
      - introduction
        
        generate awareness (price high, low, trial price)
      - decline
        
        environmental related (technological development)
  - - - detailed market research about what attributes are important on a class of products
      - shorlists existing products offer those attributes
      - understand target's ideal level for each attributes, and how they rate each brand's attributes
    - - when changing marketing and competitive environment
        
        design (appearance matter to the market)
        
        performance (convenience)
- - - - Early majority
        
        Late majority
        
        Laggards
        
        resist of new, price fall, only best producer exist
        
        mature stage, more alternatives
      - mass market starts