Chapter 7 Flashcards Preview

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Flashcards in Chapter 7 Deck (20):
1

Product Characteristics

1. Define the Product
2. Essential Benefit
3. Core Product
4. Enhanced Product

2

The fundamental need met by the product

Essential Benefit

3

Product Classifications

1. Tangibility
2. Durability
3. Consumer Goods
4. Business Goods

4

Physical aspects of the product experience

Tangibility

5

The length of product uses; the projected lifetime of the product under specific operating conditions

Durability

6

Product Discrimination

1. Form
2. Features
3. Performance Quality
4. Conformance Quality
5. Durability
6. Reliability
7. Repairability
8. Style

7

Size, shape, color, and other physical elements of a product

Form

8

Any product attribute or performance characteristic and is often added or subtracted from a product to differentiate it from competitors

Features

9

The product's ability to deliver on features and performance characteristics promised in marketing communications

Conformance Quality

10

The percentage of time the product works without failure or stoppage

Reliability

11

The ease of fixing a problem with the product

Repairability

12

Look and feel of the product

Style

13

Product Life Cycle

1. Introduction
2. Growth
3. Maturity
4. Decline

14

New Product Development Process

1. Identify Product Opportunities
2. Define the Product Opportunity
3. Develop the Product Opportunity

15

Adopter Categories

1. Innovators
2. Early Adopters
3. Early Majority
4. Late Majority
5. Laggards

16

Product enthusiasts that enjoy being the first to try and master a new product

Innovators

17

Product opinion leaders seek out new products consistent with their personal self-image

Early Adopters

18

Product watchers want to be convinced of the product 's claims and value proposition before making a commitment

Early Majority

19

Product followers are price-sensitive and risk-averse

Late Majority

20

Product avoiders want to evade adoption as long as possible

Laggards