PRODUCT CONCEPT

PRODUCT CONCEPT

This is the understanding of the product in order to showcase the best qualities of the product. Marketers spend a lot of time and research in order to target their intended audience; marketer will look in to a product towards their customers.

The product concept proposes that consumers will prefer products that have better quality, performance and feature as opposed to a normal product. The concept is truly applicable in some riches as electronics and mobile handsets

WHAT IS PRODUCT

According to Roger et al (204:248) views product as “anything that can be offered to a market for attention, acquisition, use of consumption that might satisfy a want and needs, product includes more than just tangible objects, such as cars, computers or cell phones. Broadly defined product also include services event, persons, place, organizations, ideas or mixes of these because of their important in world economy, we give special attention to services. Service are a form of product that consist of activities, benefits, or satisfaction offered for sales that are essentially tangible and do not result in the ownership of anything. Instances are banking, hotel, airlines, retail, wireless communication and home repair services.

PRODUCT, SERVICE, AND EXPERIENCES

Product is the key element in the overall market offering. Marketing mix planning begins with building an offering that brings value to a target customers. This offering becomes the basis upon which the company builds profitable customers relationships.

A company’s market offering often includes both tangible goods and services. At one extreme, the offer may consist of a pure tangible good. Such as soap, toothpaste, or salt. At the other extreme are pure services for which the offer consists primary of a service. Examples include a doctor examine a patient, or financial services between these extremes. However, many goods and service combinations are possible.

Today, as products and service becomes more commoditized, many companies moving to a new level in creating value for their customers experiences with their brand of company.