154 10.2 Products and Marketing Mix
Learning Objectives
- Define a product
- Identify difference between products that offer goods versus services
- Explain how to augment a product with services
- Define product marketing
- Explain the role of product marketing in the marketing mix
Let’s start by defining what a product is and seeing how it fits in the marketing mix. When thinking about the target customer’s perspective, it’s useful to have an expansive view of product and keep in mind that the customer experience is not only about the tangible aspects of a good.
For example, imagine that you stop at a fast-food restaurant for a quick sandwich. The sandwich is fresh and delicious and is exactly what you wanted to eat. However, the wait for the sandwich was exceptionally long, the restaurant was filthy, and the sales clerk was rude. Does that change your level of satisfaction?
Or, have you ever been excited to get a bargain on an airline ticket and then been surprised by additional fees for what seem like basic services, such as checking your luggage? Do the fees change your level of satisfaction with the product?
As we explore products and product marketing, you will find that most products include a broader range of components than you might first expect.
Learning Activities
- Reading: Defining Product
- Reading: Consumer Product Categories
- Reading: Products and Services
- Reading: Augmenting Products with Services
- Reading: Product Marketing and the Marketing Mix
- Self Check: Products and Marketing Mix