Products, Services, Brands Flashcards
(27 cards)
Product
Anything that can be offered to a market for attention, acquisition, consumption, or use that might satisfy a need or a want.
Service
An activity, benefit, or satisfaction offered for sale that is essentially intangible and doesn’t result in the ownership of anything.
Actual Product
- Brand name
- Design
- Packaging
- Quality level
- Features
Augmented Product
- After-sale services
- Warranty
- Product support
- Delivery and credit
Consumer Product
A product bought by final consumers for personal use/consumption.
Convenience Product
A consumer product that customers usually buy frequently, immediately, and with minimal comparison and buying effort.
Shopping Product
A consumer product that the customer, in the process of selecting and purchasing, usualy compares on such attributes as suitability, quality, price, and style.
Specialty Product
A consumer product with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.
Unsought Product
A consumer product that the consumer either does not know about or knows about but does not normally consider buying.
Industrial Product
A product bought by individuals and organiyations for further processing or for use in conducting a business.
Social Marketing
The use of traditional business marketing concepts and tools to encourage behaviors that will create individual and societal well-being.
Product Quality
The characteristics of a product or service that bear on its ability to satisy stated or implied customer needs.
Conformance Quality
The abilty o maintain set quality, meet expectations, and avoid defects. Quality consistency.
Brand
A name, term, symbol, or design, or a combination of these, that identifie the products or services of one seller or group of sellers and differentiates them from those of competitors.
Packaging
The activities of designing and producing the container or wrapper for a product.
Product Line
A group of products that are closely related beause they function in a similar manner, are sold to the same customer groups, are marketed through the same types of outlets, or fall within the given price ranges.
Product Line Filling
Adding more items within the present range of the product line.
Product Line Stretching
Lengthening the company’s line beyond its current range.
Product Mix
The set of all product lines and items that a particular seller offers.
Service Intangibility
Services cannot be seen, tasted, felt, heard, or smelled before they are bought (debatable).
Service Inseparability
Services are produced and consumed at the same time and cannot be separated from their providers.
Service Variability
The quality of the service may vary depending on who provides it and whene, where, or how it is provided.
Service Perishability
Services cannot be stored for later use.
Service Profit Chain
The chain that links service firm profits with employee and customer satisfaction.
