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EXPLANATION

SLIDE #4 GOODS-SERVICE CONTINUUM
The goods and services continuum enables marketers to see the relative
goods/services composition of total products. A product’s position on the
continuum, in turn, enables marketers to spot opportunities.
the pure goods end of the continuum, goods that have no related services are
positioned.
EXAMPLE: CLOTHES (SEE FIGURE)
At the pure services end are services that are not associated with physical
products.
EXAMPLE: AIR TRAVEL (SEE FIGURE)
Products that are a combination of goods and services fall between the two ends.
EXAMPLE: CELLPHONE AND SERVICE
SLIDE#5
CHARACTERISTICS
Intangible-they cannot be touched, gripped, handled, looked at, smelled, tasted. Thus, there is
neither potential nor need for transport, storage or stocking of services.

Inseparable from the service providers-The service provider is indispensable for service
delivery as he must promptly generate and render the service to the requesting service consumer. In
many cases the service delivery is executed automatically but the service provider must
preparatorily assign resources and systems and actively keep up appropriate service delivery
readiness and capabilities.
Perishable-Services have little or no tangible components and therefore cannot be stored for a
future use. Services are produced and consumed during the same period of time.
Wide variations in service standards- Each service is unique. It is one-time generated, rendered
and consumed and can never be exactly repeated as the point in time, location, circumstances,
conditions, current configurations and/or assigned resources are different for the next delivery, even
if the same service consumer requests the same service. Many services are regarded as
heterogeneous or lacking homogeneity and are typically modified for each service consumer or each
new situation.
Buyers play important roles in the creation and distribution of services- One of the most
important characteristics of services is the participation of the customer in the service delivery
process. A customer has the opportunity to get the services modified according to specific
requirement.

SLIDE#6
Classification of consumer products
Specialty products – offer unique characteristics that cause buyers to prize those
particular products.
Example: see figure
Convenience products- refers to goods and services consumers want to purchase
frequently and with minimal effect.


Impulse items- purchase on the spur of the moment.
Staples- convenience goods and services consumers constantly replenish to
maintain ready inventory.
Emergency goods and services- bought in response to urgent needs.

Unsought Products- are marketed to consumer who may not yet recognize any
need for them.
Shopping products – products consumer purchase after comparing competeing
offers
Slide #8
Business products
Installations- major capital investment in b2b markets
Accessory equipment- capital items such as desktop computers and printers that
typically cost less and last for shorter periods than installations.
Components parts and materials- finished business products of one producer
that become part of the final product of another producer
Raw materials- natural resources such as farm products, coal lumber etc.
Supplies- regular expenses a firm incur in its daily operations

Slide # 13

Quality of service is determined by 5 variables:
Tangibles- or physical evidence, ex. Tidy office and clean uniforms
Reliability-consistency of performance and dependability
Responsiveness- readiness to serve
Assurances- confidence communicated by the service providers.
Empathy- shows the service provider understands customer needs and is ready to fulfill them.

Slide # 16
Product lifecycle
Introductory stage- first stage of the product lifecycle, in which a firm works to stimulate sales of a
new market entry
Growth stage- begins when a firm starts to realize substantial profits from its investment in a product.
Maturity stage- the third stage in which industry sales level out.
Decline stage- final stage in which a decline in total industry sales occur,