Marketing Ps - Product
What is a Product in Marketing?
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Table of ContentsWhat is Product in the Marketing Mix?
What is Product in the Marketing Mix?
A Product is anything provided by a producer or seller in order to meet consumer wants and needs. Most businesses have a different product. That could be goods as in physical items. Maybe something that comes off the shelf or that we can hold and feel. It also includes services, like when we go to the doctor or when we go to the auto mechanic to have our oil changed.
Lastly, we have combination products. One of my favorite examples is when we go to a restaurant. Typically we go to a restaurant and we get food, but we also get the service of somebody cooking it and bringing it out to our table.
So there's a that's a combination of a physical good and a service. In any case whatever we pay for or buy when we go to a store or a restaurant or a service provider, that is their product.
What are the Characteristics of a Product in the Marketing Mix?
This section refers to all of the features, advantages and benefits that your customers can enjoy from buying your goods or services.
Key attributes of a product development include:
- Other Sources of Customer Value
Next Article: 5 Ps - Price Back to: MARKETING
What is Product Orientation within a Strategic Analysis?
When marketing your product, you need to think about the key features and benefits your customers want or need, including (but not limited to) styling, quality, repairs, and accessories. Specifically, identify the following information:
- Product lines or Variations
- Brand Name(s) of carried products
- Quality levels
- Warranty or Guarantees
In the following video, we discuss how product orientation is used in Strategic Analysis.