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: Marketable

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 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

• 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.