Market offering

Marketing mix

Market offering (alternatively known as market offer; hereinafter, the Offering) is the complete package that a seller offers to be sold into the marketplace. The Offering of services is also called service offering.

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: Marketing mix

The Offerings include:

1. Benefits of a market exchangeable for action, hire, or sale;
2. Accessibility and affordability of those benefits; as well as
3. 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 marketing mix.

• 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

• Flexible market offering.

1. A naked solution containing the product and service elements that all segment members value, and
2. 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.