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It is not necessarily a physical object; products can include goods, services, people, places and ideas (Walker. I., 2000, Marketing Theory and Practice, lecture 1). Products enable a company to differentiate itself from competitors and gain competitive advantage. Products can be positioned based on attributes, benefits offered, usage occasions, users, against or away from competitors, or based on the products class (Walker. I., 2000, Marketing Theory and Practice, lecture 6). Product is the most important element of the marketing mix. After all, if we didn't have the product the company would have no basis to exist.
The products that McDonald's and Hungry Jack's sell are almost identical, therefore it is important for each organisation to distinguish the differences between the products to separate themselves from each other. Hungry Jack's uses the phrase "The burgers are better at Hungry Jack's" to suggest they have a superior tasting product. While McDonald's put more emphasis on the service of their staff and the overall experience not just the physical product.
3.3.2 Price
Price is defined as the sum of values consumers' exchange for the benefits of having or using a product (Walker. I., 2000, Marketing Theory and …show more content…
They use a number of different methods to maintain high awareness and promote their image, including: advertising (television, radio, billboards, etc.), sponsorship (AFL, local basketball, Ronald House), sales promotion (e.g. the two-dollar burger), direct marketing (through birthday clubs, etc.) and publicity (McHappy Day). Hungry Jack's promotion efforts are not quite as ferocious. They tend to just maintain awareness through television advertising and billboards. They occasionally use sales promotion to persuade customers to try new products. Hungry Jack's also use direct marketing through 'Kids'
The products that McDonald's and Hungry Jack's sell are almost identical, therefore it is important for each organisation to distinguish the differences between the products to separate themselves from each other. Hungry Jack's uses the phrase "The burgers are better at Hungry Jack's" to suggest they have a superior tasting product. While McDonald's put more emphasis on the service of their staff and the overall experience not just the physical product.
3.3.2 Price
Price is defined as the sum of values consumers' exchange for the benefits of having or using a product (Walker. I., 2000, Marketing Theory and …show more content…
They use a number of different methods to maintain high awareness and promote their image, including: advertising (television, radio, billboards, etc.), sponsorship (AFL, local basketball, Ronald House), sales promotion (e.g. the two-dollar burger), direct marketing (through birthday clubs, etc.) and publicity (McHappy Day). Hungry Jack's promotion efforts are not quite as ferocious. They tend to just maintain awareness through television advertising and billboards. They occasionally use sales promotion to persuade customers to try new products. Hungry Jack's also use direct marketing through 'Kids'