Outcome: Products and Marketing Mix

What you’ll learn to do: explain what a product is and the importance of products in the marketing mix

We’ll start this module 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.

The specific things you’ll learn in this section include:

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

Learning Activities

The learning activities for this section include the following:

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

LICENSES AND ATTRIBUTIONS

Outcome: Products and Marketing Mix. Provided by: Lumen Learning. License: CC BY: Attribution