The Sage Course Companion on Marketing is an accessible introduction to the subject that will help readers to extend their understanding of key concepts and enhance their thinking skills in line with course requirements. It provides support on how to revise for exams and prepare for and write assessed pieces. Readers are encouraged not only to think like a marketer but also to think about the subject critically. It is much more than a revision guide for undergraduates; it is an essential tool that will help readers take their course understanding to new levels and help them achieve success in their undergraduate course.

Product as a Bundle of Benefits

Product as a Bundle of Benefits

Product as a bundle of benefits

The concept of product as a bundle of benefits is the theory which seeks to explain a product from the viewpoint of a consumer.

Products are what marketers supply in exchange for customers' money. From the producer's viewpoint, a product is the end result of combining factors of production, i.e. labour, raw materials, capital and enterprise, but from a customer's viewpoint the product is defined by the benefits it provides. Since marketing involves seeing everything the firm does from the viewpoint of the customer, marketers define products as bundles of benefits.

A distinction needs to be made here between a feature and a benefit. A product feature is something that describes the product in terms of ...

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