Bus M300 1nd Edition Lecture 14 Outline of Current Lecture I Analyzing a product II 4 levels of product CAAD III Core Product IV Actual Product V Augmented Product VI Desired Product VII Industrial Products vs Consumer Products VIII Critical Q s for products NAPS IX Competitive Advantage Price Matrix X Good Better Best Approach Current Lecture I Analyzing a product 3 Steps a Rational benefits b Reason to believe c Emotional benefits II 4 levels of product CAAD a Core product b Actual product c Augmented product These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute d Desired product III Core Product a Actual benefits received by consumer b The problem that is being solved c Example Automobile transportation Coke thirst IV Actual Product a The quality level features design packaging and brand name of product b Example BMW fast off the line 57 MPG shaft drive c What type of value does this sync up with Form value Information Value V Augmented Product a Delivery and credit warranty and after salve service b Example Nordstrom s gracious return policy c What type of value does this sync up with Service Value Possession Value VI Desired Product a The product consumers really want or think they want i Example bathtub in home helps sell house but it is rarely used ii Great tasting desserts that have almost zero calories VII Industrial Products vs Consumer Products a Industrial products B2B i Sold by one business to another b Consumer Products B2C i Expenditures are low c Between the two who they are trying to reach is different message is different volume discounts even products change VIII Critical Q s for products NAPS a N needs b A competitive Advantage c P price i Will customers pay a price that creates value for Co d S sustainable i Is the CA sustainable IX Competitive Advantage Price Matrix a Best positions i High price High perceived CA ii Low Low X Good Better Best Approach a There are products in three different categories good better best b How cans this hurt firm Expensive splinter resources c What is the advantage If all you offer is Best someone will offer the Good and Better d Example Car Wash
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