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4.01 Notes Products
Notes
Question | Answer |
---|---|
What is a Product? | Everything favorable and unfavorable, that a person recieves in an echange. |
What is Business/ Industrial Product? | Product used to manufacture other goods or services, to facilitate on organization operation, or to resell to other consumers. |
What is an Consumer Product? | Product brought to sasitify an indivdual personal nees or wants |
What is an Convience? | A realatively inexpensive item that needs little shopping |
What is Shopping? | A product that requires comparsion shopping because its usually more expensive and found in fewer stores |
What would be considered an Specialty item? | A particular item that consumers search extensively and are reluctent to accept |
What is Unsought? | Product unknown to the potential buyer or a known product that the buyer doesn't actively seek. |
What are the three types of products? | tangiable,service, idea |
What would be considered an Product Item? | Speicific version of a product that can be desinated as as disrinct offering among an organizations products |
What would be considered an Product Line? | A group of closelt related product items |
What would be considered product terms? | All products that an organization sells |
What are the Benefits of Product Lines? | Advertising Economies Package Uniformity Standaraized Components Efficent Sales and Distribution Equialent Quality |
What is Product Mix Width? | The # of product lines an organization has |
What two componets goes along with Product Mix width? | Diversifies risk Capitalizes on established reputations |
What is Product Line Depth? | The # of product items in a product line |
What four components go along with Product line depth? | Attracts buyers with different preferences Increases sales/profits by futher market segmentation Capitalizes an economics scale Evens out seasonal sales patterns |
What is Product Modification? | Quality,functionan, style |