![]() ![]() However, market research can help companies gain insight into what customers actually want and need regarding a product, leading to higher customer satisfaction. Of course, adding a random product feature will not automatically guarantee success. So, how do marketers know which product features to add? Through market research. Adding additional features makes a product stand out from similar products offered by competitors. Product features are crucial for differentiation. Product feature decisions - Another element of product attributes are the product's features. Product quality is also essential for providing value to customers - a high-quality product can be a value-adding feature that results in customer satisfaction. It plays a key role in positioning as products can be positioned based on their high quality (e.g., high-performance luxury cars or high fashion clothing made from the best quality fabrics). Product quality decisions - The quality of a product is crucial for its marketing. For instance, a product can be cheaper, safer, faster, chicer, more friendly, or visually appealing. In other words, it is what the business can offer but others can't. Product Decisions: Product Differentiation and USPĪ product's unique selling points are features that differentiate it from its competitors. Besides product quality, augmented features play an essential role in turning a new customer into a regular one. These extra services come with the product, such as guarantee, installation, customer support, and maintenance. The nature of the product is what constitutes the product and should be developed according to the customer's needs and wants. The cup size can be short, tall, or grande. Types of coffee include blonde roast, medium roast, and dark roast. The main ingredients are roasted coffee beans, sugar, milk, or cream. The nature of Starbucks coffee is its ingredients, type of coffee, and cup size. While the core benefit stays more or less the same, customers' wants and needs can change over time, and thus the business must be prepared to adapt accordingly.Ģ. The supermarket allows you to shop for daily groceries.įacebook is the platform that keeps you in touch with friends and family. While making product decisions, marketers consider:ġ. These decisions are vital to creating a successful marketing mix to meet the company's objectives.īefore we discuss the technical aspects of product decisions, let's quickly take a look at some examples of the types of decisions marketers might make. Product decisions are decisions to be made about the product or service a company wants to sell.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |