Marketing Management Fundamentals - Product refers to the good

Marketing Management Fundamentals

Product refers to the good or service that a company is selling usually designed to fulfill a customer's demand. The product P is one of the four Ps of marketing described in the marketing mix. A good product has a clearly defined value proposition. The value proposition is what the product offers the customer to make them feel like they are getting more than they pay for. To create a strong value proposition, the company must understand the customer wants, needs, and desires. They must create features with corresponding benefits that provide a solution to the customer's problem.

People use their cell phones daily. People feel strongly about whether they like one brand over another. People feel so passionately about brands because the product is an integral part of their lives—it needs to deliver on the brand promise constantly.

Choose a brand of phone, and respond to the following questions:

• How would you describe the phone in the product P of the marketing mix?
• What do you think the value proposition of the phone is, including the features and corresponding benefits that solve the customers' needs?
• Why do you prefer one type of phone over another?
• What would you say to someone who prefers a different phone?

Deliverable Length:  3–5 pages (not including cover page and resource page)