State the concept of product and its classification, Marketing Management

Assignment Help:

State the Concept of product and its classification

Product refers to the goods and services which are offered by organisation for sale. Here the marketers have to recognise that consumers aren't simply interested in the physical features of a product though a set of tangible and intangible attributes which satisfy their wants. For instance, when a consumer buys a washing machine he isn't buying simply a machine but a gadget which helps him in washing clothes. It also needs to be noted that term product refers to anything which can be offered to a market for attention, acquisition, or use. Hence, term product is defined as "anything that can be offered to a market to satisfy a want". It generally includes physical objects and services. In a broader sense, though, it not only includes physical objects and services but also supporting services such as brand name, packaging accessories, installation, after sales service etc.

 


Related Discussions:- State the concept of product and its classification

What is concluded by definition of consumer behaviour, What is concluded by...

What is concluded by definition of consumer behaviour? The definition of consumer behaviour conclude that this behaviour is the study of consumer about what they buy, while the

State the marketing communications tools, State the marketing communication...

State the marketing communications tools There are five main marketing communications tools: advertising, sales promotion, public relations, direct marketing and personal selli

What is effect of decreasing in cost of selling, What is effect of decreasi...

What is effect of decreasing in cost of selling in retaining customers of a firm? Decrease in Cost of Selling: A loyal set of customers maintains the selling cost down an

Jaguar''s Passage to India, Tata Motors recently introduced the nano,the wo...

Tata Motors recently introduced the nano,the world''s least expensive car for the indian market.Can Tata succeed in targeting both the very low end of the auto market as well as th

Explain the stages in the adoption process, Probelm 1: (a) Outline the ...

Probelm 1: (a) Outline the ways in which the STEP factors would affect the marketing function of a new brewery in Mauritius. (b) List and show the important elements of a co

What is marketing transaction, What is marketing transaction? A marketi...

What is marketing transaction? A marketing transaction is one in that the buyer and the seller, not individual of the nature of the product, skill mutual satisfaction the selle

homework problem, A trapezoid midsegment measures 6. One of the bases meas...

A trapezoid midsegment measures 6. One of the bases measures 10. What is the measure of the other base? What rule makes this problem solvable

Term project components, The term project for MKT 5160 is the creation of a...

The term project for MKT 5160 is the creation of a marketing plan. This is an individual assignment. Your term project consists of creating a new product or service and developin

Primary grouping of direct marketing, Primary grouping of direct marketing ...

Primary grouping of direct marketing 4Cs framework  signifies the key characteristics and shows relative effectiveness of the tools of promotion across various different charac

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd