Flashcards in Chapter 12 Deck (59)
How would you define the word product?
Anything that an organization offers to satisfy consumers needs and wants, including both goods and service.
what does intangibility mean?
Things you cannot (typically). Adding things that suggest value in something
i.e having a holly wood restaurant and decorating its walls with signed posters to validate its credentials
what does inseparability mean?
Not able to separate the buyer of a service from the person who buys it.
what does Variability ?
how good something is. Like the quality of a service by a well known more experience professional than some amateur
what does Perishability mean?
having a limitation to your service
i.e like a cafe only having
what are pure goods?
products that do not include any services
what are pure services?
Products that do not include any goods
what are consumer products?
products purchased for personal use or consumption
what is the core benefit of a product?
going to a movie
core benefit = entertainment
What is the actual product?
seeing the avengers
buying and iPhone
What is the argumentative?
Things that convince the consumer to buy a product (the extra push on something. Like a phone coming with insurance when you buy decide to sign the contract
What are business products?
Products purchased to use either directly or indirectly in the production of other products.
What is product differentiation?
The attributes that make a good or service different from other products that compete to meet the same or similar customer needs.
What are the different consumer product categories?
What are convenience products?
things like soda, gum, toilet paper
What are shopping products?
more expensive products that consumers buy less frequently. typically as consumers shop they search for the best value and learn more about features and benefits.
what is a specialty product?
Things that are much more expensive consumers seldom purchase.
i.e tiffany jewelry, Lamborghini, etc
What is an unsought product?
Things holding little interest or no interest, blood donations, funeral cost etc.
What are the different business product categories?
maintenance repair and operating products
Competent parts and processed materials
What is installations?
robots, buildings, planes, trains and automobiles
What are accessory equipment?
computers power tools and furniture
what are maintenance repair and operating products?
Light bulbs, brooms, and copy paper
What are Competent parts and processed materials?
Spark plugs, and aluminum for soda cans
what are business services?
legal service, janitorial, marketing research
what does quality level mean?
How well a product performs its core functions.
define product consistency
how reliably a product delivers its promised level of quality.
define product features
The specific characteristics of a product.
define customer benefit
The advantage that a customer gains from specific product features
Define product line
a groupe of products that are closely related to each other. Either in terms of how they work or the consumers they serve