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Marketing paradigms class lectures_88707234-Marketing

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Alexandra Andrada Serban No. 25186 Marketing and Publicity 14.04.2011 Analyzing Nikon D90 and its competitor, Canon EOS 50D Product A product is anything that can be offered to a market to satisfy a want or a need. At the heart of a great brand is a great product. The product is a key element in the market offering, and market leaders generally offer products and services of superior quality. In order to plan its market offering, the marketer needs to address five product levels, which constitute a customer value hierarchy. Each one these levels adds more customer value. The first level is the core benefit and it leads to the following levels, where the marketer has to prepare a basic product, an expected product, an augmented product and, finally, the potential product. Product classifications are made on the basis of characteristics: durability, tangibility and use (consumer and industrial). According to durability and tangibility, products can be classified into nondurable goods, durable goods and services. In order to be branded, products must be differentiated. Physical products vary in their for differentiation. At one extreme, we find products that allow little variation (e.g. chicken, aspirin, steel), and at the other extreme are products capable of high differentiation (e.g. automobile, commercial buildings, furniture). Here the seller faces an abundance of design parameters, including form features, performance quality, conformance quality, durability, reliability ...
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