Week 10 EOC: What are the benefits versus the features?

“Today, as products and services become more commoditized, many companies are moving to a new level in creating value for their customers. To differentiate their offers, beyond simply making products and delivering services, they are creating and managing customer experiences with their brands or company.” (Marketing: An Introduction Armstrong/Kotler pg. 209) In modern day, it is a gold mine to actually come up with a new, popular, and marketable idea that can become a successful product. It is why many marketers are now focusing more on the customer and the experience their product creates rather than the actual product. These experiences need to be positive, obviously, so they may become benefits in the customer’s mind and thus build a profitable relationship. The benefit my product is sought to bring to the valued customer is the comfort and peace of mind that one can indulge in a chocolaty treat without worrying about their health. “Product planners need to think about products and services on three levels. Each level adds more customer value. The most basic level is the core customer value, which addresses the question: What is the buyer really buying? When designing products, marketers must first define the core, problem-solving benefits or services that consumers seek.” (Marketing: An Introduction Armstrong/Kotler pg. 210) As previously defined, nowadays, it is not enough to only state the features of a product, the modern consumer has become more aware of its environment and now chooses wisely when picking a product over another. Marketers must not emphasize on what’s new and different about the product, they must emphasize on what’s new and different about the experience that benefits the consumer on a greater amount from competing products or brands. It is why I must emphasize on the health benefits that Cherry Poppers brings to the table rather than setting the eyes of the consumer on what different features it has that other liqueur treats may have. “Shopping products are less frequently purchased consumer products and services that customers compare carefully on suitability, quality, price, and style. When buying shopping products and services, consumers spend much time and effort in gathering information and making comparisons.” (Marketing: An Introduction Armstrong/Kotler pg. 211)

Week 9 EOC: Three Great Mission Statements

1) “Our market-oriented focus is to ensuring that a craving would not interfere with your day, whatever the occasion may be.” Oscar Corral’s business mission statement caught my eye because it not only offers a product; it offers a commodity and a service. He is giving the customer an extra service and the advantage of not having to buy two products to get one result. “We create the Ritz-Carlton experience—one that enlivens the senses, instills well-being, and fulfills even the unexpressed wishes and needs of our guests.” (Marketing: An Introduction, Armstrong/Kotler. Pg. 40)

2) “My Mission Statement for Mighty Beer is to: Deliver a rich and exotic way of drinking!” Javier Garcia’s mission statement was great simply because of the straight-forwardness and its sincerity; it wants to satisfy the customer in new and innovative ways. "Mission statements should be meaningful and specific yet motivating. They should emphasize the company’s strengths in the marketplace." (Marketing: An Introduction. Armstrong/Kotler. Pg. 6)

3) “White Tie” is a chocolate bar full of fun. This business is going to help you have a different flavor of chocolate in your mouth. Were going to bring the excitement out of those who eat it. “  Erica McBee-Marquez’s mission statement struck me as concise and concrete; it said what it had to say and did not stumble around. “Mission statements should be market oriented and defined in terms of satisfying basic customer needs.” (Marketing: An Introduction, Armstrong & Kotler, (Ch. 2, Pg. 6)