A Framework for Marketing Management - Research Paper Example

Snack: this is a convenience product because it takes me little planning to buy it - I usually purchase it on a routine basis, and it costs me very little. Whenever I decide to purchase it, I usually look for the nearby store that is most convenient. It also costs me very little (Kotler & Keller, 2009).

Shopping product:

A fridge:  when purchasing a fridge, I usually undertake some research in order to compare different types that are available in the market. I bought the most favorite that suited my budget.

Specialty products:

Rolex Watch: this was a specialty product because I exhibited a strong brand loyalty to it that I could not buy a substitute watch from an alternative company, notwithstanding Rolex high price.

Unsought products

Burial insurance policy: I bought this product even though I hated planning anything related to my death. However, it took the insurance market hours on end to convince me that this product suited me.

Chapter 11 - ETHICS EXERCISE

Knock-off product competition is an unethical practice because it involves the production of fake products, which is against the norms and values of any healthy competition in any market. Furthermore, this practice injures both the original seller and the buyer, because the seller is denied an opportunity to enjoy the fruits of their labor and ideas while the consumer is deceived into purchasing products they did not intend to purchase, thinking they were the original ones.

AMA statement of ethics adequately addresses this issue in a number of its stated norms and values. These include the following:

Do not harm: this means avoiding the introduction of counterfeit products that can cause loss to companies that have invested their resources in producing their superior quality products and spent years on end developing their brands.

Foster trust in the marketing system: production of knock-off products goes against the principle of fostering trust with the competitors because it is done in bad faith and it is also against the law. This also negates trust because it entails undertaking deceptive product design, pricing, delivery, and communication (Kotler & Keller, 2009).

Embrace ethical values: production of counterfeit products goes against building relationships and enhancing consumer confidence, transparency, and respect because they are forced to purchased goods they did not intend to purchase.

Chapter 12

 Tangible products are physical products that can be felt by touching, while intangible services are non-physical services, which the customer cannot perceive by touching.