Consumer’s needs and wants are fulfilled through Market offerings.
These offerings are not limited to physical products. They also include services activities or benefits offered for sale that are essentially intangible and do not result in the ownership of anything.
Examples of the offerings include banking, medical, bus or taxi services, airline, hotel, tax preparation, and home repair services.
Companies need to explore 3 crucial themes to shape a market offering:
- To manage services and products,
- To create new products, and
- To develop pricing strategies.
Use of the Term in Sentences:
- The company’s marketing team is researching to shape the market offering.
- Are you thinking of creating new products for developing the market offering?
- The company is launching many new market offerings.
- The customers like the new market offerings.
- Do you think that customers will like these market offerings?
- Companies need to understand their customer needs while developing the market offering.