Chapter 1

Question 1

What’s the product policy?

Answer 1

It involves specific characteristics, such as packaging and labelling

Question 2

Definition of the product:

Answer 2

Something offered to a customer to meet a requirement.

Question 3

What are the 3 categories of a product?

Answer 3

-Tangible–> Can be touched
-Intangible–> Can’t be touched
-Services–> Something the customer doesn’t own

Question 4

What are the products benefits?

Answer 4

-Core–> The main characteristics of a product
-Actual–> The product upgraded
-Augmented–> the services around the product

Question 5

What are the products decisions?

Answer 5

-Design–> It will affect the product mix
-Quality–> Higher prices for better quality
-Features–> The product when it’s completely done
-Branding–> The loyalty people have of a brand