Marketing

 Bradley Paynter

1. Consider the section of CH 8 entitled “Differences between Goods and Services.”

State and explain each of the 4 points included in this discussion.  

1. How tangible is the product – Goods are tangible, you can touch it. Services are intangible, you cannot physically touch it.

3-4)         Where the product is produced – Goods are typically mass-produced in a factory far away from the customer. A service is provided in person.

5)         Services cannot be stored – Services are perishable, you cannot store them.

1.  Quality consistency – Goods are more consistent because they have the ability to be caught before they get out of the factory. Services are not as consistent because they are done in front of the consumer.

1. Use the Marketing Plan Coach found through the website for our text.  

1. Explore 5.1.1 and 5.2.1, each of which describes a product strategy for each of Hillside Veterinary Clinic’s (HVC) two target markets.  Examine each product strategy to discover how it incorporates some, if not all, 7 points of differentiation you explored in the preceding question.  

The first target market is all families within a 10 mile radius of Wellington with small animals who are customers. The second target market is the same just people who are not customers. The product strategy is to offer a wide range of veterinary services. The goods include the items they use to neuter/spay the animals, and what they need to use to do the service. The service is provided in person, at the store, and it physically done to the animal, and you physically cannot store the service. The quality consistency is not as good because it is a service, and has a onetime chance to get it right.

1. Suggest changes to the product which you believe would improve the strategy and discuss why you believe the modification would be advantageous for HVC.

If I worked at HVC, I would tell them that they need to really get an advantage on their competitors because it is a fairly competitive market. To do this, I would not change the actual products themselves, just offer promotions that go with them.

1. Develop well written responses to end-of-chapter questions 8.17 and 8.18.

8.17 )

Convenience products have three topics, staples, impulse, and emergency. Staples are maximum exposure with widespread, low-cost distribution; mass selling by producer; usually low price; branding is important. An example of this product could be cheese and you could find this at Wal-mart. Impulse products are widespread distribution with display at point of purchase. An example of this is a candy bar at Wal-mart. Emergency products need widespread distribution near probably point of need; price sensitivity is low. An example of this is being at Wal-mart and feeling sick while there so you buy medicine.