Product

Question 1

It is a tangible or intangible goods, service, or ideas.

Answer 1

product

Question 2

It is a kind of product that you can physically touch or hold.

Answer 2

tangible products

Question 3

It is a kind of product that offers service or idea, and cannot be touch.

Answer 3

intangible products

Question 4

These are activities, benefits, and satisfication which are offered for sale or are provided in connection with the sale of goods

Answer 4

service

Question 5

It is a product which involves experiential aspects of consumption rather than utilitarian ones.

Answer 5

experience

Question 6

This type of product allows consumers to engage in fantasies, feelings, and fun.

Answer 6

experience

Question 7

Give the 3 product levels

Answer 7

core or generic products, formal products, and augmented products

Question 8

This product level provides the products main function or purpose

Answer 8

core or generic products

Question 9

This product level includes factors that could effectively differentiate your product to others

Answer 9

formal products

Question 10

This product level have supporting services that surrounds the product

Answer 10

augmented products

Question 11

What are the 4 classifications of products/goods

Answer 11

according to use, according to durability, according to differentiation, and according to types

Question 12

What are under according to use

Answer 12

consumer goods and industrial goods

Question 13

What are under according to durability

Answer 13

consumables, semi-durable, and durable

Question 14

What are under according to differentiation

Answer 14

differentiated goods and undifferentiated goods

Question 15

What are under according to types

Answer 15

convenience goods, shopping goods, unsought goods, and specialty goods

Question 16

This is a personal or household consumptions

Answer 16

consumer goods

Question 17

This is a raw materials/production of other goods

Answer 17

industrial goods

Question 18

It is either edible or non-edible product that has short period of usage

Answer 18

consumables

Question 19

It has a longer period of usage (clothes, shoes, etc.)

Answer 19

semi-durables

Question 20

It has a longest period of usage (home appliances, house, etc.)

Answer 20

durables

Question 21

Its product is branded

Answer 21

differentiated goods

Question 22

Its product is not branded

Answer 22

undifferentiated goods

Question 23

It is inexpensive and frequently purchased (foods)

Answer 23

convenience goods

Question 24

It us less frequently purchased (clothes, bags, shoes, etc.)

Answer 24

shopping goods

Question 25

It requires a lot of effort and money to buy and not frequently purchased (car, house, etc.)

Answer 25

specialty goods

Question 26

It is seldom to purchase (investments, plans, etc.)

Answer 26

unsought goods

Question 27

What is 7NPD stands for?

Answer 27

7 New Product Development

Question 28

What are the 7NPD process?

Answer 28

idea generation, idea screening, concept development and testing, business analysis, product development, marketing testing, and product commercialization

Question 29

It is the systematic search for new product ideas

Answer 29

idea generation

Question 30

It can come from company employees, research and design department, distributors, suppliers or even competitors

Answer 30

idea generation

Question 31

This is the filtering of ideas using predetermined criteria (SWOT analysis, feasibility study, etc.)

Answer 31

idea screening

Question 32

It's where the new product ideas are converted to customer-centered product concepts and tested by groups of target consumers for acceptability, believability, purchased intent, and customer value on the concept

Answer 32

concept development and testing

Question 33

It is called the pencil-pushing stage where probable sales of the new products are calculated together with it's cost and potential profitability

Answer 33

business analysis

Question 34

It is the stage where the product concept is converted into a tangible working prototype

Answer 34

product development

Question 35

The converted tangible product is now marketed in a limited area to determine whether fine-tuning is necessary

Answer 35

marketing testing

Question 36

The new product is being introduced to the market. It is also the last stage of the process.

Answer 36

product commercialization

Question 37

Physical product has 2 added components

Answer 37

packaging and labeling

Question 38

It is the wrapping material around the product that serves to contain, identify, describe, display, promote, and make the product more marketable and keeping it clean

Answer 38

packaging

Question 39

Consumers sometimes notice and buy products though this

Answer 39

packaging

Question 40

It is the display of information about a product on its container, packaging or on the product itself

Answer 40

labeling