*1.2.2. Intangible attributes*

The core aspect of the product such as its performance, quality, dependability, and reliability are often built in the product or service and therefore intangible. These key attributes cannot be seen, but rather can be felt and experienced after using the product or patronizing the service. Some after-sales services, augmented services, and such pure services like tourism, story-telling, consultancy services, and counseling services fall in this category. Here, the organization is selling experiences or feelings.

#### *1.2.3. Association features*

Product may have associated attributes to facilitate its identification and acceptance by buyers. Such attributes may be a brand name, package, warranty, credit terms, delivery terms, or payment options. For example, in Nigeria we have brands like Joy, Lux, Royal Foam, Engen, Tantalizers, etc., which depict positive brand associations.

#### *1.2.4. Exchange value*

For marketing purposes, every product, whether tangible or intangible, should have an exchange value and should be capable of being exchanged between buyer and seller, based on mutually agreed considerations. This exchange is a function of product value and the asking price. If the buyer feels that the value he is receiving from the product is equal or even higher than the money he is giving out, he feels satisfied and contented. Otherwise, he feels cheated and shortchanged and will most likely not buy it again and may even de-market the product if he gets the chance.

#### *1.2.5. Customer satisfaction*

The product should be able to satisfy consumer needs. Satisfaction can be both real and psychological. For example, when we eat food, wear clothes, or take medicines; we get a real satisfaction; whereas, when we buy insurance plan, services of travel agency, or beauty salon, we derive psychological satisfaction.
