Chapter 10 Flashcards
A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’
Product
An item consumed in one or a few uses such as food products and fuel
non durable good
An item that usually lasts over many uses such as appliances, cars, and smartphones
Durable good
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
Items that become part of the final product
Components
Sales of business products frequently result from the sale of consumer products
Derived demand
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
A unique identification number that defines an item for ordering or inventory purposes
SKU (STOCK KEEPING UNIT)
All of the product lines offered by an organization
Product Mix
The seven stages an organization goes through to identify opportunities and convert them into salable products or services
New Product Process
