ABSTRACT
Introduction Although authors discuss the product offer using a variety of different approaches, all agree that the product is a complex combination of tangible and intangible elements. The product/service is the starting point in the development of the marketing offer, and without the product concept, we have nothing to sell. Products simply deliver the basic functional solution to consumers’ needs and wants, and must be designed to deliver customer satisfaction to specified target markets. However, there is no reason why consumers should choose one commodity product from another, apart from price. In Chapter 4 we discussed commodity products and branding in detail, and explained that successful brands add value for consumers. In this chapter we will explore the components of the hospitality product, product/benefit bundles, the standardization versus adaptation debate, and the product life cycle.
