Summary: Essentials Of Marketing | 9781292298801 | Richard R Still, et al

Read the summary and the most important questions on Essentials of Marketing | 9781292298801 | Richard R. Still; Edward W. Cundiff

• 6 PRODUCTS, BRANDING AND PACKAGING

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• What are product attributes

  The characteristics/properties that give the user a certain degree of satisfaction.
  Example for toothpaste: taste, fresh breath, bright white, anti-tartar

• What are the values of a product

  • Functional (what does it look like)
  • Emotional (image and importance)

  
  Values are not only added to a product by a manufacturer (you can be influenced by friends who have a certain opinion)

• What are the functions of a product

  Instrumental (what is the function, fulfills a substantial need)
  Expressive (fulfills an emotional need: gives you status, "look at me")

• What are Leeflang's product levels

  • Physical product = Physical characteristics (technology)
  • Extended product = Physical + added characteristics (product mix)
  • Total product = Physical + added + derived characteristics (consumers)

• What are the characteristics of product groups

  • Degree of abstraction (tangible or intangible)
  • Nature of destination (B2C, B2B)
  • Level of durability (durable or non-durable)
  • Level of price change
  • Level of income increase (luxury, necessary or inferior goods)

• What effects of price change are there

  1. Substitution goods (quantity requested increases)
  2. Indifferent goods (quantity remains the same)
  3. Complementary goods (reduction in quantity requested)  

• What the 4 levels of assortment

  Product class - similar need (transportation)
  Product group - related to each other (passenger car)
  Product form - appearance form (convertible)
  Product variant - specific offer (Volvo C70)

• How can an assortment be composed

  • Width (number of different product groups)
  • Length (number of products/brands)
  • Depth (number of variants within a product group)
  • Height (average price level)
  • Consistency (relationship)    

• What is blurring of branches

  It is the decrease in the consistency of an assortment.
  
  Example: a supermarket that also sells insurances

• What types of product differentiation are there

  • Supply differentiation (extras when handing over the car)
  • Horizontal product differentiation (car with same quality, but different color)
  • Vertical product differentiation (car with different quality, engine)