Marketing Lecture July 10, 2012
). Product Position
The way the product is defined by consumers on important attributes- the place the product occupies ...
Competitive Advantages
Product, Service, Channel, People, Image Differentiation
Promote differences that are...
Important, distinctive, superior, communicable, preemptive, affordable, profitable
"Strategy is about choices and trade-offs, deliberately choosing to be different."
Michael Porter
Product
Anything that is offered to a market for consumption that satisfies a need.
Product
A bundle of attributes that satisfies consumers and is received in exchange for money or some other unit of value.
Inseparability
Services cannot be separated from their providers
Intangibility
Services cannot be seen, tasted, felt, heard, or smelled before purchase
Consumer Goods
Products purchased by the ultimate consumer.