THE PRODUCTCHAPTER 6

INTRODUCTION

Products are the vehicles by which the company attempts to accomplish its objectives. As it is, the product is the only element in the marketing mix that the company cannot do without.

DIFFERENT FORMS OF PRODUCT

1. a physical object like a phone or a kilo of pork;

2. a service like ferris wheel ride or dental check-up;

3. a place like London or Boracay;

4. an organization like Knights of Columbus or the Philippine Marketing Association;

5. an idea like "pro- life" or "the preservation of the ozone layer; and

6. a personality like LeBron James or KathNiel.

 

BENEFITS OF PHYSICAL PRODUCTqualityreputation of the manufacturerpackagingcreditinformation about the productwarrantyafter sales servicedelivery

DEFINITION

"A product is anything offered for sale by a firm to buyers to satisfy their physical , social, symbolic, and psychological

wants and needs."

CLASSIFICATION OF PRODUCTS

1. Consumer GoodsoRate of Consumption and TangibilityoConsumer’s Shopping Habits

2. Industrial Goodso InstallationsoAccessory equipmentoRaw materialsoComponent parts and materialso Supplieso Services

THE PRODUCT AS A MORE USEFUL VARIABLE