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Flashcards in Chapter 12 Deck (59)
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1

How would you define the word product?

Anything that an organization offers to satisfy consumers needs and wants, including both goods and service.

2

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

3

what does inseparability mean?

Not able to separate the buyer of a service from the person who buys it.

4

what does Variability ?

how good something is. Like the quality of a service by a well known more experience professional than some amateur

5

what does Perishability mean?

having a limitation to your service
i.e like a cafe only having

6

what are pure goods?

products that do not include any services

7

what are pure services?

Products that do not include any goods

8

what are consumer products?

products purchased for personal use or consumption

9

what is the core benefit of a product?

going to a movie
core benefit = entertainment

smart phone
core benefit=communication

10

What is the actual product?

seeing the avengers
buying and iPhone

11

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

12

What are business products?

Products purchased to use either directly or indirectly in the production of other products.

13

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.

14

What are the different consumer product categories?

Convenience products
shopping products
Specialty products
Unsought products

15

What are convenience products?

things like soda, gum, toilet paper

16

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.

17

what is a specialty product?

Things that are much more expensive consumers seldom purchase.
i.e tiffany jewelry, Lamborghini, etc

18

What is an unsought product?

Things holding little interest or no interest, blood donations, funeral cost etc.

19

What are the different business product categories?

Installations
Accessory equipment
maintenance repair and operating products
Raw materials
Competent parts and processed materials
Business services

20

What is installations?

robots, buildings, planes, trains and automobiles

21

What are accessory equipment?

computers power tools and furniture

22

what are maintenance repair and operating products?

Light bulbs, brooms, and copy paper

23

What are Competent parts and processed materials?

Spark plugs, and aluminum for soda cans

24

what are business services?

legal service, janitorial, marketing research

25

what does quality level mean?

How well a product performs its core functions.

26

define product consistency

how reliably a product delivers its promised level of quality.

27

define product features

The specific characteristics of a product.

28

define customer benefit

The advantage that a customer gains from specific product features

29

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

30

define product mix

the total number of product lines and individual items sold by a single firm