Specialty Product Notes: Definitions & Explanations PDF Download
Study Specialty Product lecture notes PDF with marketing definitions and explanation to study What is Specialty Product?. Study specialty product explanation with marketing terms to review marketing course for online MBA programs.
Specialty Product Definition:
A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
Principles of Marketing by Philip T. Kotler, Gary Armstrong
Specialty Product Notes:
A claim to fame item is an item that specific buyers will effectively try to buy as a result of extraordinary qualities or devotion to a particular brand. Shoppers who look for claim to fame items recognize what they need and will invest the energy and exertion to get it. Regularly, these purchasers won't effectively acknowledge substitute items. For example, you may search out a particular brand of dim gourmet chocolate to the rejection of every single other sort of sweets. While claim to fame items are not really costly, they regularly cost more in contrast with substitute items. For instance, a specific brand of single malt scotch might be more costly than different scotches on the rack. Cost is generally not a significant factor for steadfast buyers. They are searching for explicit brands or items that match their own inclinations.
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