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EXAM 2 CH. 10+etc.
| Question | Answer |
|---|---|
| Convenience Product | items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort |
| Shopping | items for which the consumer compares several alternatives on criteria such as price, quality, or style |
| Specialty Products | items that a consumer makes a special effort to search out and buy |
| Unsought Products | items that the consumer either does not know about or knows about but does not initially want |
| Product Item | specific product that has a unique brand, size, or price |
| Product line | group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same outlets, or fall within a given price range |
| Product Mix | consists of all of the product lines offered by an organization |
| Innovation | before product development begins, identifies: (1) a well-defined target market; (2) specific customers’ needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers |
| Continuous innovation | consumers do not need to learn new behaviors |
| Dynamically continuous innovation | minor behavior changes are needed |
| Discontinuous innovation | consumer learns new consumption patterns in order to use the product |
| Reasons for product failures (4) | 1. Insignificant point of difference. 2. Incomplete market and product protocol. 3. Failure to satisfy customer needs on critical factors. 4.͏ Bad timing |
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