Factors which differentiate products
This explanation is different to the 'Promoting and Selling' posts.
Factors are important when purchasing products.
An example would be buying a 3D TV.
So you are going into a store such as Harvey Norman and you are looking for a new 3D TV that you will be satisfied with.
You would normally think of some factors so you would be able to choose one TV.
For me, I would think of:
- Price
- Quality
- LCD, LED, Plasma
- Product's popularity among consumers, critics and online.
- Size of TV
- What people say about the TV
- Functions/System of TV such as if it is satisfying and has options for convenience
There are many more factors consumers would think of when purchasing a brand new product. We want to be satisfied, happy and will not worry about the price of the TV.
In this post, I will discuss about the most common factors which we judge on to decide which product we will purchase which will suit us more than the other similar products.
The factors that differentiate products are:
- Service
- Convenience
- Value for money
- Social and Ethical Factors
- Environmental factors
Service
Service is a factor when purchasing a product as products that need to be repaired, changed will be good or bad based on the service provider.
An example would be a motorcycle. A motorcycle store which sells motorcycles and repairs them.
Now, let's assume that the service provider is irritated and mean to the customers who ask for a repair for their motorcycle. The manager of the shop may force the service provider to fix the motorcycle. Once the repair is done, you pay the money, take it home and realise it is even worse than before the repair.
So service is an important factor when purchasing products because they may purposely make the product faulty or
claim they did repair it properly. There's a lot of issues when there is bad service.
So please make sure you observe this factor in shops that do repair or have after-sales service.
Convenience
Convenience is a factor for every product you decide to purchase. It's like common sense. If you do not like how it works, then it is not convenient and you do not purchase it. Just like that.
A product that is convenient, is chewing gum because it is readily available for consumers to purcase. Chewing gum is usually located near the check out counters so consumers can pick it up while waiting in the queue. This is very convenient.
Another example would be Mac N Cheese. This product is convenient because you only take about 3 minutes to have a nice hot meal.
The instructions for this product is something like this:
1. Open box and open the packet included. Take out the silver packet of cheese powder.
2. Pour the macaroni into a bowl.
3. Pour in a cup of water into the bowl with the macaroni.
4. Put bowl into the microwave for 2-3 minutes
5. Your meal is served!
This product is convenient, which makes it famous.
Value For Money
Value for money means the cheapest product or the product that's worth the money it is sold for. Customers will most likely purchase the products that are on sale, nontheless the price. Everyone is different but the value is important when purchasing products.
An example would be Woolworths Homebrand Cheese and Crackers vs. Le Snak Cheese and Crackers
Why people purchase Woolworths Homebrand Cheese and Crackers than Le Snak Cheese and Crackers
People will choose Woolworths Homebrand because it is either cheaper, or they are satisfied with the quality.
Why people purchase Le Snak Cheese and Crackers
People will choose Le Snak Cheese and Crackers either because it is worth the value, it is good quality, they are satisfied with the taste or because it is famous.
Basically, Value for Money is important when purchasing products.
Social and Ethical Factors
This is important for teenagers as social factors mean thinking a product is 'cool' or their friends purchase that product. The product may be popular among those age groups so social factors are important.
A brand that teenagers may purchase would be Billabong because it is cool among their friends.
Ethical factors are sort of like the price. An example would be:
BMW and Audi are often linked with wealth and success
V8 and Ford are associated with masculinity and personal power.
4WDs are associated with families.
This is pretty much what social and ethical factors are.
Environmental Factors
This is for those who are concerned about nature and the environment. These consumers would usually purchase environmentally friendly products such as cleaning products. An example would be unbleached paper products, products made from recycled paper and phosphate free detergents. A few environmentally friendly cleaning detergents are Planet Ark and Earth Choice.
This is the end of the factors that differentiate products.
This explanation is different to the 'Promoting and Selling' posts.
Factors are important when purchasing products.
An example would be buying a 3D TV.
So you are going into a store such as Harvey Norman and you are looking for a new 3D TV that you will be satisfied with.
You would normally think of some factors so you would be able to choose one TV.
For me, I would think of:
- Price
- Quality
- LCD, LED, Plasma
- Product's popularity among consumers, critics and online.
- Size of TV
- What people say about the TV
- Functions/System of TV such as if it is satisfying and has options for convenience
There are many more factors consumers would think of when purchasing a brand new product. We want to be satisfied, happy and will not worry about the price of the TV.
In this post, I will discuss about the most common factors which we judge on to decide which product we will purchase which will suit us more than the other similar products.
The factors that differentiate products are:
- Service
- Convenience
- Value for money
- Social and Ethical Factors
- Environmental factors
Service
Service is a factor when purchasing a product as products that need to be repaired, changed will be good or bad based on the service provider.
An example would be a motorcycle. A motorcycle store which sells motorcycles and repairs them.
Now, let's assume that the service provider is irritated and mean to the customers who ask for a repair for their motorcycle. The manager of the shop may force the service provider to fix the motorcycle. Once the repair is done, you pay the money, take it home and realise it is even worse than before the repair.
So service is an important factor when purchasing products because they may purposely make the product faulty or
claim they did repair it properly. There's a lot of issues when there is bad service.
So please make sure you observe this factor in shops that do repair or have after-sales service.
Convenience
Convenience is a factor for every product you decide to purchase. It's like common sense. If you do not like how it works, then it is not convenient and you do not purchase it. Just like that.
A product that is convenient, is chewing gum because it is readily available for consumers to purcase. Chewing gum is usually located near the check out counters so consumers can pick it up while waiting in the queue. This is very convenient.
Another example would be Mac N Cheese. This product is convenient because you only take about 3 minutes to have a nice hot meal.
The instructions for this product is something like this:
1. Open box and open the packet included. Take out the silver packet of cheese powder.
2. Pour the macaroni into a bowl.
3. Pour in a cup of water into the bowl with the macaroni.
4. Put bowl into the microwave for 2-3 minutes
5. Your meal is served!
This product is convenient, which makes it famous.
Value For Money
Value for money means the cheapest product or the product that's worth the money it is sold for. Customers will most likely purchase the products that are on sale, nontheless the price. Everyone is different but the value is important when purchasing products.
An example would be Woolworths Homebrand Cheese and Crackers vs. Le Snak Cheese and Crackers
Why people purchase Woolworths Homebrand Cheese and Crackers than Le Snak Cheese and Crackers
People will choose Woolworths Homebrand because it is either cheaper, or they are satisfied with the quality.
Why people purchase Le Snak Cheese and Crackers
People will choose Le Snak Cheese and Crackers either because it is worth the value, it is good quality, they are satisfied with the taste or because it is famous.
Basically, Value for Money is important when purchasing products.
Social and Ethical Factors
This is important for teenagers as social factors mean thinking a product is 'cool' or their friends purchase that product. The product may be popular among those age groups so social factors are important.
A brand that teenagers may purchase would be Billabong because it is cool among their friends.
Ethical factors are sort of like the price. An example would be:
BMW and Audi are often linked with wealth and success
V8 and Ford are associated with masculinity and personal power.
4WDs are associated with families.
This is pretty much what social and ethical factors are.
Environmental Factors
This is for those who are concerned about nature and the environment. These consumers would usually purchase environmentally friendly products such as cleaning products. An example would be unbleached paper products, products made from recycled paper and phosphate free detergents. A few environmentally friendly cleaning detergents are Planet Ark and Earth Choice.
This is the end of the factors that differentiate products.
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