This activity requires students to determine a price solely based on what value the product generates for the customer. As there are only insignificant variable costs involved, what price is right?
EXCLUSIVE MEMBER ACTIVITY
Value Pricing – A Tough Decision Review the Teaching Activity
Consumers buy a product solution (the benefits) for their need/problem. In promotional communications, it is important to communicate benefits – not features! In this activity, students will convert features into benefits.
Talk Benefits, Not Features Review the Teaching Activity
This company has an idea to modify the attributes of its existing product. The goal is to try and increase sales. However, there is a risk that sales could actually decrease instead – what do your students think?
Changing Product Attributes – A Good Idea? Review the Teaching Activity
By changing a product’s mix of attributes you effectively create new products, which may provide a unique solution. In this activity, students modify the mix of attributes for a table, in order to meet different needs.
Product Design = Mix of Attributes Review the Teaching Activity
In this activity for a banking ‘club”, students need to determine what would be the appropriate level of augmentation for each of the club’s elements.
Designing a Product’s Augmentation Review the Teaching Activity
Students choose between sets of competitive product offerings. One of the choices is more heavily augmented. How important is the augmented product in the decision? Are students willing to pay more?
Does Product Augmentation Provide Value? Review the Teaching Activity
The task in this activity is to classify the offerings of a computer retailer into core, actual and augmented product levels.
How to Classify Product Levels Review the Teaching Activity
A product should meet a need or provide a solution for a consumer. In this activity, students identify the consumer’s need and/or identify the product solution.
A Product Meets a Need Review the Teaching Activity
For this activity, students need to identify different ways of motivating (using Maslow’s theory) consumers to buy a smart phone and to visit a restaurant.
Using Motivation Theories Review the Teaching Activity