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Individual Product and Service Decisions
Transcript of Individual Product and Service Decisions
the characteristics of a product/service that bear on its ability to satisfy stated or implied customer needs
"Quality is when our customers come back and our products don't."
Total Quality Management-all of the company's people are involved in constantly improving quality of products, services and business processes
the ability of a product to perform its functions
freedom from defects and consistency in delivering a targeted level of performance
competitive tool for differentiating the company's product from competitor's products
Style- appearance of a product
Design- contributes product's usefulness as well as its looks
name, term, sign, symbol or design or a combination of these that identifies the products or service of one seller or group of sellers & differentiates them from those of competitors
•help consumers identify products that might benefit them
•brands also say something about product quality and consistency
•brand names becomes the basis on which a whole story can be built about a product's special qualities
•brand name and trademark provide legal protection for unique product features that otherwise might be copied by competitors
•branding helps the seller segment markets
•involves designing and producing the container or wrapper for a product
important marketing tool: attracting attention, describing the product, making the sale
Major packaging concern:
•supports the brand's positioning and adds personality to the brand
Federal Trade Commission Act of 1914
Fair Packaging and Labeling Act of 1966
The Nutritional Labeling and Educational Act of 1990
Product Support Services
held that false, misleading, or deceptive labels or packages constitute unfair competition
set mandatory labeling requirements, encouraged voluntary industry packaging standards, and allowed federal agencies to set packaging regulations in specific industries
requires sellers to provide detailed nutritional information on food products.
has been affected recently by unit pricing, open dating and nutritional labeling
Keeping customers happy AFTER the sale is the key to building lasting relationships
survey customers periodically
take steps to fix problems and add new services