ENTREPneurship - PRODUCT.pptx

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1. THE 7 P’S OF MARKETING MIX PRODUCT PRODUCT

2. PRODUCT Product refers to any goods or services that is produced to meet the consumers’ wants, tastes and preferences.

3. GOODS SERVICES A Consumer Goods B Business Goods A Consumer Services B Professional Services

4. GOODS Goods are tangible items sold to customers. Goods are something that you can use or consume.

5. GOODS A. Consumer Goods Consumer goods are tangible goods that are purchased for direct consumption to satisfy a human need or want. Consumer goods are products that people buy and don’t use to make other things that are then sold. We can also call them final goods because when somebody buys them, they have reached their final destination. Consumer goods are the end result of manufacturing and production. All the food and drink that we purchase in the supermarket, for example, are consumer goods.

6. GOODS B. Business Goods Business goods are various goods not for final consumption but for producing other goods or providing services. If a product is to be used in making other products or for the operation of an enterprise, it is called industrial or business goods. These business products are often sold with the aim of being processed in some other way before they are sold to consumers. Examples of business products include raw materials, equipment, supplies, business services, and software.

7. A service is not a tangible or physical entity but is still sought after by consumers . Services are tasks performed for the benefit of the recipients. SERVICES

8. A. Consumer Services Consumer services are any services that are provided for the benefit of consumers and not businesses. They are intangible, perishable, and cannot be replaced. Basically, if someone provides a service that can be used by consumers, it’s considered a consumer service. It is an intangible products or services produced and consumed at the same time. Haircuts and car washes are typical examples of consumer services. SERVICES

9. SERVICES Professional services are nonphysical products or services that individuals or companies provide to customers to help them manage or improve a specific area of their businesses. Because professional service providers have specialized knowledge in a given field, they allow the customer to focus on core business concerns. Unlike a consultant, who may only be responsible for providing advice, a professional service provider may also be responsible for the end result. They include lawyers, advertising professionals, architects, accountants, financial advisers, engineers, and consultants, among others. Basically, they can be any organization or profession that offers customized, knowledge-based services to clients. B. Professional Services

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