Product is a bundle of satisfactions that a customer buys .It represents a solution to a customers’ problems. It is in this context that marketing definition of a product is more than just what the manufacturer understands it. As Peter Drucker puts, it so long as a product is not bought and consumed, it remains a raw material or at best an intermediate .Product is almost always a combination of tangible and intangible benefits .For example a refrigerator is not just merely steel, plastics, Freon gas, brand name, number of doors ,etc but also involves factors like after sales service ,delivery and installation ,assisting in purchase of the product , dealer network and service etc .It also connotes status in developing Countries .It is the same cases with other products like T.V ,music systems, automobiles, personal products, and services like banks, airlines ,telephone ,courier, etc
What then constitutes a product? To understand and appreciate it, need to perceive it as a four layer item .At the heart of it is the “ core” or “generic” part .As Levitt puts it, this is the table stakes of business, i.e what is needed to play the game of market participation .For a refrigerator manufacturer it is the compressor steel. Freon gas, condenser and various other electrical or electronic components that need to be assembled To a Five Star hotel management it’s the number of rooms, restaurants and swimming pools .To an airline operator ,it’s the aircraft But in today’s competitive world ,there is hardly any difference between a firms on the generic component of the product. Also , because of standardization of technology ,customers are never able to perceive any significant difference among ”core” or “generic” products of competing firms in the industry.
To differentiate its product from all others , the firms names it (branding) ,packs it, puts additional features like laminated top, a stand or a water tap at the door of the refrigerator ,use colors to give a distinctive appeal aesthetics and the like. By doing all this the firm seeks to differentiate its product its product from all other. This makes a “core” product a “formal product” or the expectant product. But, as inter-firm rivalry intensifies , differentiation on the basis of the formal product ceases to exist .Consider the example of ceiling fans, Today, there is no difference in the fans marketed by Crompton , Jay Engineering , Khaitan, etc. All look alike in terms of attributes ,style, color etc. Besides all have identical warranties making the task of a fan marketer difficult.
It is here that the marketer searches for possible differentiation .When the technology ceases to give one and it becomes a price and promotions war, the marketer looks for the intangibles .Intangibles are services like after sales service , delivery and installation schedules ,helping buyers purchase the product through a low cost customer needs and marketer’s creative strategy to feel it. This intangible component of the product along with the formal and core components is called augmented product. Levitt believes that future competition will be in the augmented product .The marketer keeps expanding the service component thus enhancing the product value .Not all customers for all products and under all circumstances can be attracted by this on-going process of value enhancement .They may prefer to buy a low priced product to an augmented product Some customers may not be able to use extra services offered by the marketer. Nonetheless, it is an irony in marketing that as customers get more enlightened about the product (through marketers teaching about the use of the product) the more vulnerable the marketer becomes to losing them .And this is precisely when the customer shops for a price. ”At this point, it makes sense to embark on a systematic programs of customer-benefiting and therefore ,customer –keeping ,product augmentation .The firm should also underrtake cost-reduction programs so that it can compete on the price front too. According to Levitt, augmented product is a condition of market maturity or of relatively experience or sophisticated customers.
The potential product consists of every6thing that might be done to attract and hold customers These offerings differ from one market to another because of varying economic and competitive conditions. The driving force in developing these offerings is the prime goal of any firm—retain competitive advantage Thus, product is the total concept that a customer buys, As competition intensifies ,markets open up, and as we improve our telecommunication and information network and there are more televisions in India families ,firms will have to re-examine their product concepts .For an important fact to be kept in mind is that these concepts keep changing as customers become more aware and sophisticated.
Tuesday, 19 May 2009
Mega Solutions to Online Jobs and Wealth Creation
Maybe I should treat these issues individually to make you understand the group you belong to.These are the various ways of maing unlimited wealth on the net. This is sure and guaranteed ways. You can always count on them. They are real and guinine to the core.
1. AWsurveys: This is a survey that pays you $6.00 for just signing up with them as a menber. Membership is free, I mean absolutely free, not even a penny to spend on it. Every survey that comes up you will be paid appropriately for after taking the surveys. You are also apportuned to enjoy the referral programs, of which, you are paid $1.25 per person you refer. Just imagine if you are able to refer 100 people you will be paid $125 immediately upon your demand for withdrawal and so on and so forth.Just imagine that great opportunity.Just copy and paste this is and you are on your way to make unilmited income : www.AWSurveys.com/HomeMain.cfm?RefID=amyfex
Just register and start making your money with little or no stress immediately.
2. PROGRAMMERS/TELEMARKETERS:
Are you a programmer or telemarketer? well this is is your opportunity to make it online. This is the simple tips on where to make the greatest wealth on the net.I got some answers for your problems.
simply sign up with any of the three or possibly all :
http://www.eufreelance.com/affiliates/ koko4u/
http://www.getafreelancer.com/affiliates/koko4u/
http://www.scriptlance.com/?ref=koko4u
sign up is free of charge.Start working immediately make bids for each project posted daily.
3. Get away from poverty:
I call this get away from your poverty because its very lucrative. Its just involves a little but not much finance. This is one of the greatest among the other programs that I have recommended Its is always said that you use money to get money. well, program is a lucritive one whereby, you have to register as a member with the sum of $ 100 and when you circle out of the board of seven people, you will be paid $100 and when you circle out of the second board you will be paid $200, third is $2500, fourth is $15,000. There you are then taken to a fresh board to start afresh of which no fee is required of you.This program continues for a life time.
4. shvoong writers:
This opportunity is mainly for writers, of which you are paid for writing articles. You are paid for evry article published.
1. AWsurveys: This is a survey that pays you $6.00 for just signing up with them as a menber. Membership is free, I mean absolutely free, not even a penny to spend on it. Every survey that comes up you will be paid appropriately for after taking the surveys. You are also apportuned to enjoy the referral programs, of which, you are paid $1.25 per person you refer. Just imagine if you are able to refer 100 people you will be paid $125 immediately upon your demand for withdrawal and so on and so forth.Just imagine that great opportunity.Just copy and paste this is and you are on your way to make unilmited income : www.AWSurveys.com/HomeMain.cfm?RefID=amyfex
Just register and start making your money with little or no stress immediately.
2. PROGRAMMERS/TELEMARKETERS:
Are you a programmer or telemarketer? well this is is your opportunity to make it online. This is the simple tips on where to make the greatest wealth on the net.I got some answers for your problems.
simply sign up with any of the three or possibly all :
http://www.eufreelance.com/affiliates/ koko4u/
http://www.getafreelancer.com/affiliates/koko4u/
http://www.scriptlance.com/?ref=koko4u
sign up is free of charge.Start working immediately make bids for each project posted daily.
3. Get away from poverty:
I call this get away from your poverty because its very lucrative. Its just involves a little but not much finance. This is one of the greatest among the other programs that I have recommended Its is always said that you use money to get money. well, program is a lucritive one whereby, you have to register as a member with the sum of $ 100 and when you circle out of the board of seven people, you will be paid $100 and when you circle out of the second board you will be paid $200, third is $2500, fourth is $15,000. There you are then taken to a fresh board to start afresh of which no fee is required of you.This program continues for a life time.
4. shvoong writers:
This opportunity is mainly for writers, of which you are paid for writing articles. You are paid for evry article published.
Wealth Creation Through Internet Marketing
How would you like to wake up in the morning, grab a cup of coffee, press a few keys on your computer and discover you've just had hundreds or thousands of dollars deposited into your bank account overnight?
It can happen for you, just as it's happening for me and thousands of people all over the world. People who never imagined they'd be making 6-figure incomes, people who never dreamed they could make money from home so easily.
You don't need to be a technical whiz, and you don't need a Harvard MBA. All you need is a computer, access to the Internet, and a small time commitment each week. Your potential earnings will depend on the amount of time you can commit per week, and it's not unrealistic to see people earning $3,000 to $5,000 per month within a few short months of starting this journey.
The Internet has made tens of thousands of millionaires - yes, you read that correctly: tens of thousands of millionaires. One individual recently made over $1million in less than 24 hours! Don't believe me? See www.MillionDollarDay.com. In fact, did you know there are 19-year old kids who are already billionaires because of the Internet?
It's so easy to make money online now that age isn't a factor any more. You don't have to wait till you're 55 to quit your job comfortably. I left permanent employment in my mid-30's, and you can make the same kind of income as I do online at 24, 54 or 104.
I now make more money in half a day than I used to in a week. I know that sounds hard to believe, but the Internet has allowed thousands of us to prosper in ways we just could not have imagined before this technology came along.
Billions of transactions take place over the Internet every day that could not have taken place twenty years ago because it's literally done the impossible - it's given us the power to contact literally hundreds of thousands of potential customers (a global market of billions) in seconds, with almost no cost and to keep sending that message 24 hours a day, even while you sleep.
Naturally there have been people along the way who have abused this technology (spam for example), just like with any technology. But these people aside, this is a very powerful way to reach people. Whether you're spreading news, preaching the gospel, or making a living for you and your family, we now have an incredible tool for doing what couldn't be done 20 years ago.
So, instead of relying on a low-paying job where you're required to work 10 hour days and sometimes 7-day weeks, why not consider boosting your income through Internet Marketing? You'll more than likely find that you'll be able to quit your job much sooner than you think because your Internet earnings will very quickly replace your salary.
But before we get too carried away, bear in mind that almost 98% of online businesses fail in their first 6 months. The reasons for this are many and varied - in most cases it's because f a poor choice of product. In your search for online income opportunities, you will encounter thousands of well written, professional websites promising that they are the BEST deal for you. It's often easy to fall for their slick sales copy, but beware and keep your wits about you.
It can happen for you, just as it's happening for me and thousands of people all over the world. People who never imagined they'd be making 6-figure incomes, people who never dreamed they could make money from home so easily.
You don't need to be a technical whiz, and you don't need a Harvard MBA. All you need is a computer, access to the Internet, and a small time commitment each week. Your potential earnings will depend on the amount of time you can commit per week, and it's not unrealistic to see people earning $3,000 to $5,000 per month within a few short months of starting this journey.
The Internet has made tens of thousands of millionaires - yes, you read that correctly: tens of thousands of millionaires. One individual recently made over $1million in less than 24 hours! Don't believe me? See www.MillionDollarDay.com. In fact, did you know there are 19-year old kids who are already billionaires because of the Internet?
It's so easy to make money online now that age isn't a factor any more. You don't have to wait till you're 55 to quit your job comfortably. I left permanent employment in my mid-30's, and you can make the same kind of income as I do online at 24, 54 or 104.
I now make more money in half a day than I used to in a week. I know that sounds hard to believe, but the Internet has allowed thousands of us to prosper in ways we just could not have imagined before this technology came along.
Billions of transactions take place over the Internet every day that could not have taken place twenty years ago because it's literally done the impossible - it's given us the power to contact literally hundreds of thousands of potential customers (a global market of billions) in seconds, with almost no cost and to keep sending that message 24 hours a day, even while you sleep.
Naturally there have been people along the way who have abused this technology (spam for example), just like with any technology. But these people aside, this is a very powerful way to reach people. Whether you're spreading news, preaching the gospel, or making a living for you and your family, we now have an incredible tool for doing what couldn't be done 20 years ago.
So, instead of relying on a low-paying job where you're required to work 10 hour days and sometimes 7-day weeks, why not consider boosting your income through Internet Marketing? You'll more than likely find that you'll be able to quit your job much sooner than you think because your Internet earnings will very quickly replace your salary.
But before we get too carried away, bear in mind that almost 98% of online businesses fail in their first 6 months. The reasons for this are many and varied - in most cases it's because f a poor choice of product. In your search for online income opportunities, you will encounter thousands of well written, professional websites promising that they are the BEST deal for you. It's often easy to fall for their slick sales copy, but beware and keep your wits about you.
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