chapter 9 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
Intangible activities or benefits that an organization provides to satisfy consumers’ needs in exchange for money or something else of value.
services
Products organizations buy that assist in providing other products for resale. Also called B28 products or industrial products.
business products
Items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
connivence 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
The four unique elements that distinguish services from goods: intangibility, inconsistency, Inseparability, and inventory.
Four I’s of service
A specific product that has a unique brand, size, or price.
product item
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 the product lines offered by an organization.
product mix
consumers don’t need to learn new behaviors.
continuous innovation
only minor changes in behavior are re-quired.
dynamically continuous innovation
involves making the consumer learn entirely new consumption patterns to use the product.
discontinuous innovation
A statement that, before product development begins, identifies (1) a well-defined target market;
(2) specific customers’ needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers.
protocall
Items that the consumer does not know about or knows about but does not initially want.
unsought products
