Chapter 8 Flashcards
(51 cards)
Features, functions, benefits, and uses of a product. Marketers view products as a bundle of attributes that includes the packaging, brand name, benefits, and supporting features in addition to a physical good.
Attributes
All the benefits the product will provide for consumers or business customers
Core Product
The physical good or the delivered service that supplies the desired benefit
Actual Product
The actual product plus other supporting features such as warrant, credit, delivery, installation, and repair service after the sale
Augmented Product
Consumer products that provide benefits over a long period of time, such as cars, furniture, and appliances
Durable Goods
Consumer products that provide benefits for a short period of time because they are consumed (such as food) or are no longer useful (such as newspaper)
Nondurable Goods
A consumer good or service that is usually low-priced widely available, and purchased frequently with a minimum of comparison and effort
Convenience Product
Basic or necessary items that are available almost everywhere
Staple Product
A product people often purchase on the spur of the moment
Impulse Product
Products we purchase when we’re in dire need
Emergency Product
Goods or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
Shopping Products
Computer programs that find sites selling a particular product
Intelligence Agents
Goods or services that has a unique characteristic and is important to the buyer for which he or she will devote significant effort to acquire
Specialty Products
Goods or Service for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention
Unsought Products
Expensive goods that an organization uses in its daily operations that last for a long time
Equipment
Goods that a business customer consumes in a relatively short period of time
Maintenance, Repair, and Operating (MRO) Products
Products of the fishing, lumber, agricultural, and mining industries that organizational customers purchase to use in their finished products
Raw Materials
Products created when firms transform raw materials from their original state
Processed Materials
Manufactured goods or subassemblies of finished items that organization need to complete their own products
Component Parts
A product that consumers perceive to be new and different from existing products
Innovation
A modification of an existing product that sets one brand apart from its competitors
Continuous Innovation
A new product that copies, with slight modification, the design of an original product
Knockoff
A change in an existing product that requires a moderate amount of learning or behavior change
Dynamically Continuous Innovation
A totally new product that create major changes in the way we live
Discontinuous Innovation
