4.01 notes-PRODUCT
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| What is a product? | Everything,both favorable and unfavorable that a person recieves in an exchange.
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| 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.
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| What is a consumer product? | A prodcut bought to satisfy an individual's personal wants.
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| What is a convencience product? | A relaticely inexpensive item that merits little shopping effort.
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| 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.
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| what is a Specialty product? | A particular item that consumers search extensively for and are very reluctant to accept substitutes.
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| what is an unsought product? | a product unknown to the potential buyer or a known product that the buyer does not actively seek.
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| what is a product item? | a specific version of a product that can be designed as a ditinct offering amoung an organization's product.
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| what is a product line? | a group of closely related product items.
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| What is product mix? | all products that an organization sells.
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| what is prodct mix width? | thenumber of product lines an organization offers.
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| what is product line depth? | the number of product items in a product line.
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| what is product modification? | change one or more of a product's characteristics.
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| what is planned obsolescence? | the practice of modifying products so those that have already been sold became obsolete before they actually need replacement.
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| what is product line extension? | adding additional products to an existing product line in order to complete more broadly in the industry.
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| what is brand equity? | the value of compoany and brand names.
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| what is global brand? | a brand where at least 20 percent of the product is sold outside its home country or region.
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| what is brand loyalty? | a consistent preference for one brand over all others.
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| what is a generic product? | a no-frills, no -brand-name, low-cost product that is simply identified by its product category.
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| what is a manufacturer's brand? | the brand of a manufacturer
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| what is a private brand? | a brand name owned by a wholesaler or a retailer.
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| what is a trademark? | the exclusive right to use a brand or part of brand.
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| what is service mark? | a trademark for a service.
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| what is a generic product name? | identifies a product by clas or type and cannot be trademarked.
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| what is persuasive labeling? | a type of package labeling that focuses on a promotional theme or logo with consumer information being secondary.
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| 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.
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| 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.
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| what is a warrenty ? | a confirmation of the quality or performance of a good or service.
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| what is an express warranty? | a written guarantee.
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| what is an implied warranty? | an unwritten guarantee that the good or service is fit for the purpose for which it was sold
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