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	Marketing Pricing strategies
	Chapter 10 – Developing New Products and Services Product – a good, service or idea that consists of tangible attributes (physical characteristics) and intangible attributes (not perceived by the senses) that will satisfy consumers in exchange for money or something of value Product Line – a group of products that are closely related o satisfy needs o are used together o sold to the same consumer group o distributed to same type of channel o fall within a given price range o has it’s own marketing strategy Product Item – A specific product from a product line that is noted for it’s unique brand, size or price Product mix –number of product lines offered by a company Classifying Products o helps to develop similar marketing strategies on a variation of products o two ways to classify products: Type of User and Degree of Tangibility Type of User: Consumer goods – products purchased by the ultimate consumer Business goods – products that are bought in order to resell or to aid the business Degree of Tangibility Method of product classification 1. ... • The name of your brand should propose the benefits of the product • Should try to make the name unique, memorable and positive • The name should fit with the corporate culture of the company or product image • Make sure that the name has no legal or regulatory restrictions • Generally the name should be simple and emotional Branding Strategies • When a company is deciding to develop a brand for a product they must choose from a few different branding approaches: 1.

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Paper Information

Title: Marketing Pricing strategies

Words: 1188
Rating: None
Pages: 4.8
submitted by: aahmed24

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