Chapter 9 Product : The Online Offer

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Week 2 Chapter 9 Product: The Online Offer In today’s economy, a product is anything that can be purchase physically or virtually. According to the book, a product is any tangible good, service, idea, people, and place. They are products because in one way or another they could be marketed on the Internet. A product is not just born out of nowhere; a product is created through research in order to determine what is important to the consumer. The marketing mix consists of product, place, distribution, and marketing communication. Both of Marketing mix along with CRM work as a whole to create relational and transactional outcome with customers (Strauss & Frost, 2014, p. 230). To be a successful company, companies have to be willing to…show more content…
Customers want more than just the product they want something more, they want the benefits of the product. The chapter mentions that there are five general product decisions that comprise its benefits, which will meet its consumer’s needs. The Five product decisions are Attributes, branding, support services, labeling, and packaging (Strauss & Frost, 2014, p. 231). Attributes are the overall quality and feature of a product. Based on quality customers believe, in most cases, “that you get what you pay for.” The chapter describes this phrase as saying that the higher the price you pay for something the more you will benefit for or the more life expectancy it will have. The features are described as an image, it is a way to meet the consumers’ needs and wants (Strauss & Frost, 2014, p. 231). Branding is the name, term, symbol, design, or a combination of all this items that would identify a company’s products or services and it differentiates the company from other competitors. A company or individual will have to register their brand with the U.S. patent office to be able to make it their own and become a trademark, if not anyone else can get that brand. A brand is very important in today’s industry it defines the whole company, it creates the possibility of signifying a promise or value among their customers. According to the book, brand equity has been the intangible value of a brand. A brand signifies a lot to
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