Business – 3.3 The marketing mix – Product | e-Consult
3.3 The marketing mix – Product (1 questions)
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Answer: Intangible attributes add value by enhancing the perceived benefits, reducing perceived risk, and creating emotional connections with customers. For example, Dyson sells vacuum cleaners at a premium price not only because of their advanced engineering (a tangible attribute) but also because of the brand’s reputation for innovation, superior after‑sales service, and a strong warranty (intangible attributes). These intangibles reassure customers of product reliability, foster brand loyalty, and justify a higher price point, thereby increasing the overall value perceived by the consumer.