#7) What is a Product?

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penetration

LOW PRICE, HIGH QUALITY

Economy

-LOW PRICE, LOW QUALITY

support service components

-Repair and maintenance -installation -instruction -deliveries -warranty -spare parts -legal

Three Groups of components of a product

-core -marketing -support service

What is a product?

-more than a physical item: bundle of satisfaction the buyer receives -perceived value -physical attributes contribute to the primary function of the product

marketing components

-price, quality, packaging, style, brand, trademark, name/logo, legal

core components

-product platform -design featrues -functional features -legal

Product Portfolio Strategy Matrix

For pricing your product on globally in different segments and target groups

premium

HIGH PRICE HIGH QUALITY

skimming

HIGH PRICE, OKAY QUALITY


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