Explain the difference between a good and a service.

For the following Pick a good and a service.

Then answer these questions using those examples.

1. Who is the target market?

1. What is the competitive advantage?

1. What demographic factors affected the choice of this target?

1. What is the price strategy, promotion strategy, and placement strategy?

1. How is the product packaged? Why?

1. Who is the direct competition and indirect competition?

1. How are environmental factors affecting the marketing of this product? Consider social, demographic, legal, political, economic, technological, and competitive factors.

1. Is the purchase of this product affected by psychological or social needs and situational factors?

1. Is the marketer attempting market penetration, market development, product development, and/or diversification strategy? How and Why?

1. What is its reputation on overall quality and customer service when compared to the competition?

11. What is the Global Vision for each?