Today's take-away substantiates the quote: there are product benefits that the consumers are searching for (e.g. tasty wine). These benefits are determined by product subjective attributes (e.g. country of origin, docg information, sort of grape, vintage year, shape of the bottle etc.). So the wine is not necessary tasty, you just believe it should be based on the attributes you see when you buy it. So, do you know why South African wines are considered to be good wines? Because producers use black glass of the bottle (cool!) and the bottle is heavy (it weights like quality product). These were functional attributes. What if you search for emotional benefit while buying the wine (e.g. you want to be cool and look like a wine connoisseur) - what would be the attributes for such a purchase? First of all price! The more the better :)
Today's learning - generic beliefs are effects with no knowledge. An example: Italians consider Naples coffee to be the best in Italy (no one remembers why). Italians think that Americano is the worst coffee in the world. The legend of the good Naples comes from the an apparatus Napoletana - that was actually used for making Americano-style filtered coffee :)
Market info - did you know that coffee is world's 2nd largest business by size, right after oil!
(c) Prof. Troilo
SDA Bocconi
Today's learning - generic beliefs are effects with no knowledge. An example: Italians consider Naples coffee to be the best in Italy (no one remembers why). Italians think that Americano is the worst coffee in the world. The legend of the good Naples comes from the an apparatus Napoletana - that was actually used for making Americano-style filtered coffee :)
Market info - did you know that coffee is world's 2nd largest business by size, right after oil!
(c) Prof. Troilo
SDA Bocconi
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