ABSTRACT
This chapter reviews the product as a complex entity, stressing the quality dimensions. Attention is also given to the strategic implications of product mix policy. Positioning products in people's minds and making them attractive to market segments requires careful formulation of the marketing mix. Getting the right blend of the product, promotion price and distribution is essential to put the carefully carried out analysis into operation. Pricing is not just a mechanistic process involving knowledge of costs and the addition of a profit margin. There are strategic pricing decisions to be made and pricing is inherently limited to product quality specification. Finally, people, processes and physical evidence are also considered as elements of the extended marketing mix. Quality reflects differences among products or differences among services. As long as it is possible to create differences among products then it should be possible to create differences in quality.
