Objective 4

______J identify the four characteristics that affect the marketing of a service and the additional marketing considerations that services require.

Services Marketing 268-275

Author | As you'll see, this is a Comment | deceptively simple question with a very complex answer. For example, think back to our opening Las Vegas story. What is the Las Vegas "product"?

Product

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

Service

Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

What Is a Product? (PP 248-253)

We define a product as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. Products include more than just tangible objects, such as cars, computers, or cell phones. Broadly defined, "products" also include services, events, persons, places, organizations, ideas, or mixes of these. Throughout this text, we use the term product broadly to include any or all of these entities. Thus, an Apple iPod, a Toyota Camry, and a Latte at Coffee Republic are products. But so are a trip to Las Vegas, Fidelity online investment services, and advice from your family doctor.

Because of their importance in the world economy, we give special attention to services. Services are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything. Examples are banking, hotel, airline, retail, wireless communication, and home-repair services. We will look at services more closely later in this chapter.

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