warm-up list five changes mcdonalds made to improve their business
TRANSCRIPT
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Warm-up
List five changes McDonalds made to improve their business.
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Learning Targets
1. I can explain what's included in a value package.
2. I can explain the difference between a product line and product mix.
3. I can identify the three major classes of products and what they mean for marketers.
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Product Strategies Developing products and services to meet customers needs.
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Price
Package
Store atmospherics
Guarantee
Reputation of
producer
Brand name
Service
Past experience
Accessibility
What do you take into consideration when buying a product?
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Developing a Value Package
Value Package:
Everything that consumers evaluate when deciding whether to buy something.
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Standing Out
Product Differentiation:
The creation of real or perceived product differences.
Price Features Packaging Image
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Product Lines and the Product Mix
Product Line:
A group of products that are similar or intended for a similar market.
Product Mix:
The combination of product lines offered by a manufacturer.
http://www.apple.com/
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Classes of Goods
Convenience Goods & Services
Consumer want to purchase frequently and with minimum of effort
Examples: snacks, gas, banking, milk
Location, brand awareness and image are important.
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Classes of Goods
Shopping Goods & Services
Consumers buy only after comparing value, quality, and price from a variety of sellers.
Examples: Computers, Vacations, Clothes
Price, quality, and service are important
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Classes of Goods
Specialty Goods & Services
Products that have a special attraction to consumers who are willing to go out of their way to obtain them.
Examples: Sports cars, jewelry, fine chocolate
Reaching special market segments is important
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Washing Machine
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Batteries
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Wood Oven Pizza
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Product Development
Lets learn from….
http://www.youtube.com/watch?v=JkHOxyafGpE
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Cool Down
What do you feel are the keys to developing good products?