Chapter 8

Question 1

Core Product

Answer 1

All the benefits the product will provide for consumers or business customers

Question 2

Actual Product

Answer 2

The physical good or the delivered service that supplies the desired benefit

Question 3

Augmented product

Answer 3

The actual product plus other supporting features such as a warranty, credit, delivery, installation, and repair service after the sale.

Question 4

Durable Goods

Answer 4

Consumer products that provide benefits over a long period of time, such as cars, furniture, and appliances

Question 5

Nondurable goods

Answer 5

Consumer products that provide benefits for a short time because they are consumed or are no longer useful.

Question 6

Convenience product

Answer 6

A consumer good or service that is usually low-priced, widely available, and purchased frequently with a minimum of comparison and effort

Question 7

Staple Products

Answer 7

Basic or necessary items that are available almost everywhere

Question 8

Impulse Products

Answer 8

A product people often buy in the spur of the moment

Question 9

Emergency Products

Answer 9

Products we purchase when we’re in dire need

Question 10

Shopping Products

Answer 10

Goods or services for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase.

Question 11

Intelligent agents

Answer 11

Computer programs that find sites selling a particular product

Question 12

Specialty Products

Answer 12

Goods or services that has unique characteristics and is important to the buyer and for which she will devote significant effort to acquire

Question 13

Unsought Products

Answer 13

Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to her attention

Question 14

Equipment

Answer 14

Expensive goods that an organization uses in its daily operations that last for a long time

Question 15

Maintenance, repair, and operating products

Answer 15

Goods that a business customer consumes in a relatively short time

Question 16

Raw Materials

Answer 16

Products of the fishing, lumber, agricultural, and mining industries that organizational customers purchase to use in their finished product

Question 17

Processed materials

Answer 17

Products created when firms transform raw materials from their original state

Question 18

Component Parts

Answer 18

Manufactured goods or subassemblies of finished items that organizations need to complete their own products

Question 19

New Product Development

Answer 19

The phases by which firms develop new products including idea generation, product concept development, business analysis, technical development, test marketing, and commercialism

Question 20

Product adoption

Answer 20

The process by which a consumer or business customers begin to buy and use a good, service, or idea

Question 21

Diffusion

Answer 21

The process by which the use of a product spreads throughout a population

Question 22

Tipping Point

Answer 22

In the context of product diffusion, the point when a products sales spike from a slow climb to an unprecedented new level, often accompanied by a steep price decline.