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Principles of Marketing MKT1014
Tutorial Group: 7
Day & Time: Thursday 1.30-2.30p.m.
Date: 3rd
OCT 2013Group Member: Jasmine Chee Xin Ni 13015615
Eunice Yong Jia Qi 13008784
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Tutorial Question
1. Describe the differences betweengoods and services.
2. List the entire core, actual andaugmented components of theirexisting and new product.
3. Why do you think the company has
decided to use the brand name fortheir existing and new product?
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Services are intangible
- Cannot be seen, tasted, felt, heard or smelled
- Difficult to convey the benefits of services
- Consumers perception
In contrast
Goods are tangible- Can be seen, tasted, felt, heard or smelled
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Services are inseparable
- Service production cannot be separated from
consumption, provider- customer interaction
- Rarely to have the opportunity to enjoy the
service before purchase
In contrast
Goods are separable
- Can be separated from their providers
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Services are variable
- The quality of services may vary greatly
depending on who provides them and when,
where, and how
- Accountant: Quality of delivering services are
variable
In contrast
- Goods are homogeneous and standardized
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Services are perishable
- Cannot be stored for later sale or use
- any service time that is not used equals a lossin revenue
- Airline company: Unoccupied airline seat
In contrast
- Goods are non-perishable and can be storedfor later use
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Levels of Product & Services
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Video Sharing
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Core customer value
Design and Innovative
Easy and Simplicity
Quality
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Quality
Two dimension
Level Consistency
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Design
Trendy
Classy
iPhoneis the productthat you have with you
all the time; theunique
relationship people have
with their iPhones.
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Innovation
Who wants a stylus?
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Easy & Simplicity
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Actual Product
Brand name
Quality Level
Packaging Design
Features
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Brand Name
iphone 5s
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Packaging
Whats in the box
iPhone 5s with iOS 7
Apple EarPods with Remote and Mic
Lightning to USB Cable
5W USB Power Adapter
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New Design
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Features
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Augmented Product
Delivery and Credit
Product and Support
After- sale service Warranty
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Delivery and Credit
Shipping & Pickup
Purchase online and pick them up at an Apple Store, or ship them directly toyour doorstep.
Shipping & Delivery
Personal Pickup
Apple offers free shipping on orders above RM 250.
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Product Support
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Technical Support
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Summary Q2
Identify the Core Customer Value
DesignActual Product
Ways toAugmentthe product tocustomer satisfaction.
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WHY i
It Starts with an Identity
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Video Sharing
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Brand
Products identity that set it apart from other
players in the same industry
Represent the combination of elements
i.e. product name, symbol, design, reputation,
and image.
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Brand Equity
The differential effect that knowing the brand
name has on customer response to the
product or its marketing
The overall value of a brand to an
organization- the extra $$ that consumer will
spend to buy that brand
Strong brand can create financial & nonfinancial advantages to its organization
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Qualtrics Brand Equity
http://www.qualtrics.com/university/researchsuite/research-resources/survey-types/market-surveys/brand-management-surveys/
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Brand Awareness
The % of a target population who know a
company exists and what products or services
the company offers
No brand awareness = No/Less consideration
to buy the product
Sophisticated company & product name-
Strong ability to attract new customers andretain current market share
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Battle of Brand Association
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Perceived Quality
Apples perceived quality:
1. They didnt use release dates
# not driven by competition; but the quality of itsproducts
2. They dont sell their products based on
specifications; they do it based on the experience# how its products can make life beter?
# benchmark by which others are measured
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Perceived Quality
3. A simplified product line
# one version of iPhone
# Were always thinking about new market we could
enter, but its only by saying no thay you can concentrate on the
things that are really important
Quoted by Steve Jobs-
4. Intuitive products# used by a wide variety of people
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Brand Loyalty
Consumers commitment to repurchase or continueusing the brand
Demonstrated by repeatedly buying a product orservice from the same supplier
Made up from customers perceived value, brandtrust, satisfaction in LONG RUN
Advantages:
Positive effect on companys profitability
Longer loyalty as a customer
Lower sensitivity to price increases
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Best Global Brand 2013
http://www.interbrand.com
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The End ;)