topic 1

Subdecks (3)

Cards (177)

  • A ______ is a good, a service, or an idea received in an exchange. It is anything that can be offered to a market to satisfy the needs of a customer.
    product
  • a physical object that can be perceived by touch
    tangible product
  • a product that can be perceived indirectly
    intangible product
  • this can be broadly classified under intangible products which can be durable or non-durable.
    services
  • is a concept, philosophy, or image, issues or inventions. it provides the psychological stimulation that aids in solving problems.
    idea
  • it is the analysis of a product according to the different level of benefits it offers.
    product anatomy
  • a benefit of a product. it is the benefit of the product
    core product
  • a level of a product. it is the tangible, physical product.
    actual product
  • a level of a product. it is the supplemental features provide added value or attributes in addition to its core utility or benefit.
    augmented product
  • it is important because classes of products are aimed at particular target markets which affect distribution, promotion, and pricing decisions, etc.
    product classification
  • these are products purchased to satisfy personal and family needs.
    consumer products
  • the four categories in classifying consumer products
    convenience goods, shopping goods, specialty goods, unsought products
  • these are relatively inexpensive, frequently purchased items.
    convenience goods
  • goods in which the consumer is willing to invest a great deal of time and effort.
    shopping goods
  • goods that are of interest only to a narrow segment of the population and buyers are willing to spend considerable effort to obtain. they know exactly what they want and will not accept a substitute.
    specialty goods
  • products purchased when a sudden problem must be solved, consumers are unaware of, and products that people do not necessarily think of purchasing.
    unsought products
  • products bought to use in a firm's operations, usually purchased on the basis of an organization's goals. the functional aspect is the most important part.
    business products
  • seven categories of business products.
    installations, accessory equipment, raw materials, component parts, process materials, MRO supplies, business services
  • this business product include facilities such as office buildings
    installations
  • this business product does not become part of the physical product but is used in production or office activities.
    accessory equipment
  • this business product is the basic natural material used in marketing a physical product. bought and sold according to grades, etc
    raw materials
  • this business product become part of the physical product and are either finished items ready for assembly or needs processing.
    components parts
  • this business product is used directly in the production of other products not readily identifiable
    process materials
  • this business product is called maintenance, repair and operating items that facilitate production but does not become part of the finished product.
    mro supplies
  • this business products are the intangible products that many organizations use in their operations
    business services
  • this is a specific version of a product that can be designated as a distinct offering among an organization's products
    product item
  • a group of closely related product items that are considered to be a unit because of marketing, technical, or end-use considerations
    product line
  • describes the combination of different product lines that the firm holds. the total group of products that an organization makes available to customers.
    product mix
  • this is measured by the number of product lines a company offers.
    width of product mix
  • this refers to the average number of diff products offered in each product line.
    depth of product mix