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Why do we consume?
Looking for broad-strokes here:
We have a need and we want to satisfy them
Offerings
What products and services are designed to
deliver value to the consumer.
Can be to fulfill needs, satisfy wants, or both
Offerings
Product
Tangible good people can buy, sell, and own
The actual singing bowl, mat, and mallet
Offerings
Feature
Characteristic of the offering
What particular pitch (D5 in this case), the materials
used, or the location of its creation
Benefit
When a feature satisfies a need or a want
The benefit I will receive from the singing bowl is both
tangible (relaxation) and intangible (satisfying my
bohemian nature). More on this in a second
Offerings
Price
Amount paid to receive and offerings benefits
Offerings
Service
An action that provides a buyer with an intangible
benefit (you cant hold what you are paying for)
Massage, haircut, gym membership, etc.
This also includes what you receive from a product (like
the bohemian thing from my singing bowl)
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Product Mix
The entire assortment of products that a firm
offers
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Pr
od
uc
t
M
ix
Line Width
Line Depth
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Consumer Offerings
Generally fall into four categories:
Convenience offering
Shopping offering
Specialty offering
Unsought offering
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Convenience Offering
Products and services consumers generally
dont want to put too much effort into shopping
for since they see too little difference between
brands
Bread
Shopping Offering
An offering that a consumer will make an
effort to compare and select a brand.
There will be a large amount of effort expelled
on making a shopping purchase
With this type of purchase, if the store is out of the
product, you will go to a different store to buy the
one you set-out to buy
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Specialty Offering
Highly differentiated offerings with highly
differentiated marketing by the firms
Generally much higher margin
Generally purchased less frequently than
convenience offerings
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Unsought Offerings
Offering that consumers dont want to shop for
until they are forced to (funeral service, towing
services, etc.)
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Facilitating Offerings
Products and services that support a
companys operations but are not part of the
final product it sells
Marketing research, transportation services, office
supplies, computer supplies, etc.
Though these are not part of a final product, they
are certainly important
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Packaging Decision
Package can be a part of the brand itself
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Packaging Decisions
Functions:
Communicate the brand and benefits
Protecting the product from damage and
contamination
Prevent leakage of contents
Present governmentally mandated warnings and
information
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Packaging Decisions
Primary packaging
Single unit* for retail sale
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Packaging Decisions
Secondary packaging
Holds a single wholesale unit of a product
No warnings or information labels, but still
branded
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Packaging Decisions
Tertiary packaging
Designed specifically for shipping and efficient
handling of large quantities
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Product manager
For non-consumer products (since some branding
decisions arent necessary in a B2B setting)
Think: Copy machines or business communications
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