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Godds services continuum

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Vikash Kumar Bibhakar
Vikash Kumar Bibhakar

1) A product is defined as an idea, physical good, service, or combination thereof that satisfies individual or business needs. 2) There is a continuum between goods and services, with goods being tangible and standardized and services being intangible, perishable, inseparable, and variable. 3) Products can be differentiated based on their attributes and how they are perceived relative to competitors' offerings.

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Irwin/McGraw-Hill & Dr. Chen8-1 Product and Service Continuum
Irwin/McGraw-Hill & Dr. Chen8-2 The Good/Services Continuum Target Market Promotion PricePlaceProduct Product idea Brand Package Warranty None, limited full, extendedPhysical good/services Features Benefits Quality level Accessories Installation Instruction Product line Type of Brand: Individual or family Manufacturer or dealer Protection Promotion Enhancement
Irwin/McGraw-Hill & Dr. Chen8-3 What Is a Product?  Product:  An idea, a physical entity (a good), a service, or any combination of the three that is an element of exchange to satisfy individual or business objectives .
Irwin/McGraw-Hill & Dr. Chen8-4 Types of Products Goods: Physical products with form and substance Services: Non-physical products usually involving performance Consumer Products: Those used by consumers for their own use and satisfaction. Business Products: Those used in the running of a business or in the manufacture of products for resale.
Irwin/McGraw-Hill & Dr. Chen8-5 The Good/Services Continuum Paper Truck Production equipment Auto repair Uniform rental Restaurant Healthcare Haircut Accounting Goods Goods (Intangible, Perishable, Inseparable, and Variable in quality) (Tangible, Storable, Separable, and Standardized in quality)
Irwin/McGraw-Hill & Dr. Chen8-6 Canned foods Ready- made clothes Auto- mobiles Carpets Rest- aurant meals Repairs: auto, house, Air travel Insurance, Consulting, Teaching MOSTLY GOODS MOSTLY SERVICES The Good/Services Continuum
Irwin/McGraw-Hill & Dr. Chen8-7 Product Differentiation  Product Differentiation:  Exists when a firm’s offerings differ or are perceived to differ from those of competing firms on any attribute, including price.
Irwin/McGraw-Hill & Dr. Chen8-8 Goods and Services  Goods:  Physical products.  Services:  Nonphysical products.
Irwin/McGraw-Hill & Dr. Chen8-9 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin—for use only with Basic Marketing Differences in Goods and Services Where produced (storing and transporting) Tangibility When produced relative to when consumed Balancing supply and demand Contact with customer by producer of product Differences
Irwin/McGraw-Hill & Dr. Chen8-10 Characteristics and Strategies for Services Service Characteristic Service Strategy Intangible Associate service with something tangible Perishable Manage demand to utilize supply Inseparable Capitalize advantages of person providing service Variable Standardize service delivery as much as possible
Irwin/McGraw-Hill & Dr. Chen8-11 Product Classes • Two broad classes – consumer products – business products • Classes help in planning marketing mix needed • Based on how the customer views the product – how consumers think about and shop for products – how business/organizational buyers think about products and how they'll be used
Irwin/McGraw-Hill & Dr. Chen8-12 Consumer and Business Products  Consumer Products:  Products that are purchased by consumers for their own personal use.  Business Products:  Products purchased by a firm or organization for its own use.
Irwin/McGraw-Hill & Dr. Chen8-13 Types of Consumer Products Convenience Products Shopping Products Specialty Products
Irwin/McGraw-Hill & Dr. Chen8-14 Types of Business Products Capital Products Production Products Operational Products
Irwin/McGraw-Hill & Dr. Chen8-15 Business Product Classes
Irwin/McGraw-Hill & Dr. Chen8-16 Product Components Product Components Product Features • Quality • Design • Branding • Packaging Service Features • Purchase services • Usage services

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Godds services continuum

  • 1. Irwin/McGraw-Hill & Dr. Chen8-1 Product and Service Continuum
  • 2. Irwin/McGraw-Hill & Dr. Chen8-2 The Good/Services Continuum Target Market Promotion PricePlaceProduct Product idea Brand Package Warranty None, limited full, extendedPhysical good/services Features Benefits Quality level Accessories Installation Instruction Product line Type of Brand: Individual or family Manufacturer or dealer Protection Promotion Enhancement
  • 3. Irwin/McGraw-Hill & Dr. Chen8-3 What Is a Product?  Product:  An idea, a physical entity (a good), a service, or any combination of the three that is an element of exchange to satisfy individual or business objectives .
  • 4. Irwin/McGraw-Hill & Dr. Chen8-4 Types of Products Goods: Physical products with form and substance Services: Non-physical products usually involving performance Consumer Products: Those used by consumers for their own use and satisfaction. Business Products: Those used in the running of a business or in the manufacture of products for resale.
  • 5. Irwin/McGraw-Hill & Dr. Chen8-5 The Good/Services Continuum Paper Truck Production equipment Auto repair Uniform rental Restaurant Healthcare Haircut Accounting Goods Goods (Intangible, Perishable, Inseparable, and Variable in quality) (Tangible, Storable, Separable, and Standardized in quality)
  • 6. Irwin/McGraw-Hill & Dr. Chen8-6 Canned foods Ready- made clothes Auto- mobiles Carpets Rest- aurant meals Repairs: auto, house, Air travel Insurance, Consulting, Teaching MOSTLY GOODS MOSTLY SERVICES The Good/Services Continuum
  • 7. Irwin/McGraw-Hill & Dr. Chen8-7 Product Differentiation  Product Differentiation:  Exists when a firm’s offerings differ or are perceived to differ from those of competing firms on any attribute, including price.
  • 8. Irwin/McGraw-Hill & Dr. Chen8-8 Goods and Services  Goods:  Physical products.  Services:  Nonphysical products.
  • 9. Irwin/McGraw-Hill & Dr. Chen8-9 © 2002 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin—for use only with Basic Marketing Differences in Goods and Services Where produced (storing and transporting) Tangibility When produced relative to when consumed Balancing supply and demand Contact with customer by producer of product Differences
  • 10. Irwin/McGraw-Hill & Dr. Chen8-10 Characteristics and Strategies for Services Service Characteristic Service Strategy Intangible Associate service with something tangible Perishable Manage demand to utilize supply Inseparable Capitalize advantages of person providing service Variable Standardize service delivery as much as possible
  • 11. Irwin/McGraw-Hill & Dr. Chen8-11 Product Classes • Two broad classes – consumer products – business products • Classes help in planning marketing mix needed • Based on how the customer views the product – how consumers think about and shop for products – how business/organizational buyers think about products and how they'll be used
  • 12. Irwin/McGraw-Hill & Dr. Chen8-12 Consumer and Business Products  Consumer Products:  Products that are purchased by consumers for their own personal use.  Business Products:  Products purchased by a firm or organization for its own use.
  • 13. Irwin/McGraw-Hill & Dr. Chen8-13 Types of Consumer Products Convenience Products Shopping Products Specialty Products
  • 14. Irwin/McGraw-Hill & Dr. Chen8-14 Types of Business Products Capital Products Production Products Operational Products
  • 15. Irwin/McGraw-Hill & Dr. Chen8-15 Business Product Classes
  • 16. Irwin/McGraw-Hill & Dr. Chen8-16 Product Components Product Components Product Features • Quality • Design • Branding • Packaging Service Features • Purchase services • Usage services