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Improving Decisions with Marketing Information
In marketing the term product refers not only to tangible goods but it also takes into account the intangiblegoods like services and ideas that a seller offers a buyer to purchase. A product is therefore defined as a good; anidea, a method or a service created and serves a need or satisfies a want. A good is something that is tangible. That is, something that can be felt, heard, tasted seen or smelled. A service is an intangible commodity and the customer obtains it through the work of someone else. Something is classified as an idea in marketing if a marketer tries to convince acustomer to change their behavior or perception about something in some way (Kotler & Armstrong, 2009).
Bicycle is a tangible good; its spare parts also can be felt. However, in marketing it has both tangible and intangible attributes. For example, the bicycle seller not only offers the physical product (bicycle) but also the idea that the buyer will improve their movement.
Service products prove hard to identify, because they exist the same time they are bought and consumed. That is they are inseparable from the provider. However, sometimes services represent an integral part of a good. For example a travel service isa service that is tangible.travel agent provides both good (a cab) which offers the means of travel, as well as the act of driving which is measurable and is classified as a service. In a supermarket as well, the customer buys tangible goods but the attendants also offers him information on how to use the goods. The information is intangible and can be classified as a service (Kotler & Armstrong, 2009).
A car dealer offers both goods (cars) and services to their customers as they may also decide to offer some financing options to their customers such as leases and loansas well as warrants. These are to some extent intangible (Kotler & Armstrong, 2009). However, goods are no longer considered separate from services. Rather, they are considered interconnected.
Kotler P., and Armstrong G., (2009).Principles of Marketing. London Ft/Prentice-Hall