Reference no: EM131481240

Assignment

1. Select one of your favorite products and describe it terms of its:

1. features
2. benefits
3. price
4. total cost of ownership

Be sure you refer to these concepts in the week's readings before tackling this description. Then, identify where your product would fall on the product/service continuum and why you chose that location. Use percentages such as 25 percent product and 75 percent service. Lastly, does the product have any product lines? If so, how do they differ from the "core product" in terms of additional benefits or features?

2. This section of the week's readings describes the types of consumer offerings with four categories:

1. convenience offerings
2. shopping offerings
3. specialty offerings
4. unsought offerings

Consider your own purchase behaviors. Identify a product that, for you, falls into each of the four categories. Be sure to consider why you chose each of the categories for each product.

3. identify which stage of the life cycle you believe it is in and why. You don't need to do research; just use your personal experience and judgment. You may want to check out the product's website. Then, identify what marketing strategies need to be done to the marketing mix based on the stage you selected.