Chapter 10 Flashcards
A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value
product
consumed in one of a few uses
nondurable good
usually last over many uses
durable good
Intangible activities or benefits that an organization provides to satisfy consumers’ needs
services
Products purchased by the ultimate consumer
consumer products
Products organizations buy that assist in providing other products for resale
business products
Items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
convenience products
Items for which the consumer compares several alternatives on criteria such as price, quality, or style
shopping products
Items that the consumer makes a special effort to search out and buy
specialty products
Items that the consumer does not know about or knows about but does not initially want
unsought products
a consumer demand increases, so a company may increase its demand for a business product
derived demand
A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same outlets, or fall within a given price range
product line
Consists of all product lines offered by an organization
product mix
having a product that is successful and now you’re providing new variants of it
product line extension
putting an established brand name on a new product into an unfamiliar market
brand extension
