Chapter 8 Marketing principles Sec 101 Mohammad G. Bajwa 201002545 Khalid Al Qahtani 200800031 Abdulaziz Gabori 201000107

Products, Services, and Brands Building Customer Value A product is more than a simple set of tangible features. The core customer value consists of the core problem solving benefits that consumers seek when they buy a product. The actual product exists around the core and includes the quality level, feature, design, brand name, and packaging.

Define product and the major classification of product and service. a product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need . products include physical objects but also services, events, persons, places, organizations, or ideas. services are products that consist of activities , benefits, or satisfactions offered for sale that are essentially intangible, such as banking, hotel..

Describe the companies decisions about product Individual product decisions involve product attributes, branding, packaging, labeling, and product, support, service. Product, attribute decisions involve product quality, features, and style and design. Branding decision include selecting a brand name and developing a brand strategy.

branding strategy and the companies decisions Brands are the major enduring asset of a company. Brands are more than just names and symbols; they embody everything that the product or the service means to consumers. Brand equity is the positive differential effect that knowing the brand name has on customer response to the product or the service. Companies need to make decisions about brand positioning, brand name selection, brand sponsorship, and brand development. Companies must build and manage their brands carefully. The brand’s positioning must be continuously communicated to consumer. Advertising can help.