Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs.

Intangible tasks that satisfy the needs of consumer and business users.

Tangible products customers can see, hear, smell, taste, or touch.

Goods–services continuum

Spectrum along which goods and services fall according to their attributes, from pure good to pure service.

Products marketed to consumers who may not yet recognize a need for them.

Goods and services consumers want to purchase frequently, immediately, and with minimal effort.

Products consumers purchase after comparing competing offerings.

Products with unique characteristics that cause buyers to prize those particular brands.

Series of related products offered by one company.

Assortment of product lines and individual product offerings a company sells.

Progression of a product through introduction, growth, maturity, and decline stages.

First stage of the product lifecycle, in which a firm works to stimulate sales of a new-market entry.

Second stage of the product lifecycle that begins when a firm starts to realize substantial profits from its investment in a product.

Third stage of the product lifecycle, in which industry sales level out.

Final stage of the product lifecycle, in which a decline in total industry sales occurs.

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C712 Product

Term	Definition
Product	Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs.
Services	Intangible tasks that satisfy the needs of consumer and business users.
Goods	Tangible products customers can see, hear, smell, taste, or touch.
Goods–services continuum	Spectrum along which goods and services fall according to their attributes, from pure good to pure service.
Unsought Products	Products marketed to consumers who may not yet recognize a need for them.
Convenience Products	Goods and services consumers want to purchase frequently, immediately, and with minimal effort.
Shopping Products	Products consumers purchase after comparing competing offerings.
Specialty Products	Products with unique characteristics that cause buyers to prize those particular brands.
Product Line	Series of related products offered by one company.
Product Mix	Assortment of product lines and individual product offerings a company sells.
Product Life Cycle	Progression of a product through introduction, growth, maturity, and decline stages.
Introductory Stage	First stage of the product lifecycle, in which a firm works to stimulate sales of a new-market entry.
Growth Stage	Second stage of the product lifecycle that begins when a firm starts to realize substantial profits from its investment in a product.
Maturity Stage	Third stage of the product lifecycle, in which industry sales level out.
Decline Stage	Final stage of the product lifecycle, in which a decline in total industry sales occurs.

Created by: mkale

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