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AOHT HM - Lesson 3
| Term | Definition |
|---|---|
| anecdotal evidence | Evidence based on personal experience or hearsay; it is considered less reliable than evidence based on research but may still illustrate a valuable point. |
| customized product | A product that is intentionally designed to be changed to suit individual customers or groups of customers. |
| differentiation | A strategy a business uses to stand out and show what its competitors can't do. |
| globalization | A decision to create some international product standards while allowing other local adaptations (a combination of customized and standardized products). |
| intangible | Incapable of being perceived by the sense of touch, taste, or smell but yet can hold emotional or intellectual value. |
| perishability | The characteristic of being perishable (i.e., doesn’t last forever; existing only for a specific amount of time). |
| pitch | What you say or present to persuade someone to buy something or convince someone that you’ve taken the right approach. |
| plausible | Apparently reasonable and valid. |
| product | The item being marketed; the purpose, style, and quality of the product are among the product’s features that are important to marketing. |
| product bundle | A package deal that offers additional value in an attempt to increase sales. |
| standardized product | A product that is designed to provide the identical product/service to all customers. |
| tangible | Things that can be touched, like the food served or the sheets on a hotel bed. |
Created by:
rileygrubb
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