Market offering
In marketing, a market offering (alternatively known as seller offering and market offer; hereinafter, the Offering) is the marketable that a seller offers to be exchanged into the marketplace. The Offering of services is also called service offering.
Contents
Definitions
According to the ITIL Foundation 4e by Axelos,
- Service offering. A formal description of one or more services, designed to address the needs of a target consumer group. A service offering may include goods, access to resources, and service actions.
Components
- Main wikipage: Marketable
The Offerings include:
- Benefits of a market exchangeable for action, hire, or sale;
- Accessibility and affordability of those benefits; as well as
- Communication of the benefits, accessibility and affordability to their prospective customer.
Exchangeable
- Main wikipage: Market exchangeable
The Offering must include at least one market exchangeable, but the Offering is more than just the marketable. All the elements of the Offering are known as marketable.
- Customer-value hierarchy. Five product levels that must be addressed by marketers in planning a market offering: core benefit; basic product; expected product; augmented product; and potential product.
Targeting
Potential market
- Potential market. The set of consumers who profess a sufficient level of interest in a market offer.
Flexible
- Main wikipage: Flexible market offering
- A naked solution containing the product and service elements that all segment members value, and
- Discretionary options that some segment members value.
Benefits vs costs
Customer benefit
- Main wikipage: Total customer benefit
- Total customer benefit. The perceived monetary value of the bundle of economic, functional, and psychological benefits customers expect from a given market offering because of the product, service, people, and image.
Customer cost
- Main wikipage: Total customer cost
- Total customer cost. The bundle of costs customers expect to incur in evaluating, obtaining, using, and disposing of the given market offering, including monetary, time, energy, and psychic costs.
