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4.01 notes-PRODUCT
| Question | Answer |
|---|---|
| What is a product? | Everything,both favorable and unfavorable that a person recieves in an exchange. |
| What is a business product? | A product used to manufacture other goods, or services, to facilitate an organization's operations, or to resell to other customers. |
| What is a consumer product? | A prodcut bought to satisfy an individual's personal wants. |
| What is a convencience product? | A relaticely inexpensive item that merits little shopping effort. |
| what is a shopping product? | a product that requires comparison shopping because it is usually more expensive thn a convenience product and is found in fewer stores. |
| what is a Specialty product? | A particular item that consumers search extensively for and are very reluctant to accept substitutes. |
| what is an unsought product? | a product unknown to the potential buyer or a known product that the buyer does not actively seek. |
| what is a product item? | a specific version of a product that can be designed as a ditinct offering amoung an organization's product. |
| what is a product line? | a group of closely related product items. |
| What is product mix? | all products that an organization sells. |
| what is prodct mix width? | thenumber of product lines an organization offers. |
| what is product line depth? | the number of product items in a product line. |
| what is product modification? | change one or more of a product's characteristics. |
| what is planned obsolescence? | the practice of modifying products so those that have already been sold became obsolete before they actually need replacement. |
| what is product line extension? | adding additional products to an existing product line in order to complete more broadly in the industry. |
| what is brand equity? | the value of compoany and brand names. |
| what is global brand? | a brand where at least 20 percent of the product is sold outside its home country or region. |
| what is brand loyalty? | a consistent preference for one brand over all others. |
| what is a generic product? | a no-frills, no -brand-name, low-cost product that is simply identified by its product category. |
| what is a manufacturer's brand? | the brand of a manufacturer |
| what is a private brand? | a brand name owned by a wholesaler or a retailer. |
| what is a trademark? | the exclusive right to use a brand or part of brand. |
| what is service mark? | a trademark for a service. |
| what is a generic product name? | identifies a product by clas or type and cannot be trademarked. |
| what is persuasive labeling? | a type of package labeling that focuses on a promotional theme or logo with consumer information being secondary. |
| what is informational labeling? | a type of package labeling desinged to help consumers make proper product selections and lower their cognitive dissonance after the purchase. |
| what is universal product codes(UPCs)? | a series of thick an dthin vertical lines(bar codes) readable by computerized optical scanners , that represent numbers used to track products. |
| what is a warrenty ? | a confirmation of the quality or performance of a good or service. |
| what is an express warranty? | a written guarantee. |
| what is an implied warranty? | an unwritten guarantee that the good or service is fit for the purpose for which it was sold |
Created by:
meredithlove10
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