Chapter 9 Flashcards
good
Tangible product we can see, touch, smell, hear, or taste.
durable goods
Consumer products that provide benefits over a long period of time such as cars, furniture, and applicances.
nondurable goods
Consumer products that provide benefits for a short time because they are consumed (such as food) or are no longer useful (such as newspapers).
convenience product
A consumer good or service that is usually low priced, widely available, and purchased frequently with a minimum of comparison and effort.
shopping product
A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase.
specialty product
A good or service that has unique characteristics, is important to the buyer, and for which the buyer will devote significant effort to acquire.
unsought product
A good or service for which a consumer has little awareness or interest until the product or a need for the product is brought to their attention.
equipment
Expensive goods an organization uses in its daily operations that last for a long time.
maintenance, repair, and operating (MRO) products
Goods that a business customer consumes in a relatively short time.
raw materials
Products of the fishing, lumber, agricultural, and mining industries that orgaiztional customers purchase to use in their finished products.
processed materials
Products created when firms transform raw materials from their original state.
specialized services
Services purchased from outside suppliers that are essential to the operation of an organization but are not part of the production of a product.
component parts
Manufactured goods or sub-assemblies of finished items that organizations need to complete their own products.
innovation
A product that consumers perceive to be new and different from existing products.
continuous innovation
A modification of an existing product that sets one brand apart from its competitors.
