Market Offerings Definition:
Products, services, information, and experiences represents markets offerings. Markets offerings includes goods and services which are available in market to satisfy customers needs and wants. It also includes the information and first end experiences available in market to attract customers.
Example:
For example, A company offers a variety of technical products. Company will give information about their product usage its advantages and all its feature to attract customers. For this purpose, companies use different advertising mediums as well as use promotion strategy. Which helps customers to get knowledge about product usage, its aesthetics etc. we all have seen these types of promotional carts which attract customers to persuade them to generate sale.
Recently OPPO selfie expert mobile company is launching promotional carts. It allows users to use their mobile phones on the spot. This will help users to get first hand experience. This way user becomes familiar with the aesthetic of mobile phone, have real time experience of its use.
Explanation:
This strategy helps companies in such a way, it reduces customers dissatisfaction because customers have opportunity to know about its feature before to make a purchase. Now a days, its becomes essential for companies to give importance to market offerings. In case of service offering company its more important than product offering company. This is because, in a company which offer service, location aesthetic, appearance service scape and environment matters. These all factors helps to make regular customers and leads to customers loyalty.
Market offerings are not limited only to the physical product. But this also includes the intangibles benefits and services provided to the customers. Some of the intangible market offerings examples are banking, airline ticket etc. Furthermore, market offerings are used to make loyal customers as well as to retain existing customers to generate sales