Chapter 12.1

Question 0

Convenience products

Answer 0

Are items the consumer seeks to purchase frequently, immediately, and with little effort.

Question 1

Product

Answer 1

Physical, service, and symbolic characteristics designed to satisfy consumer wants.

Question 2

Shopping products

Answer 2

Are purchased only after the buyer has compared competing products in competing stores.

Question 3

Specialty products

Answer 3

Are those that a purchaser is willing to make a special effort to obtain.

Question 4

Business products

Answer 4

Paycheck services and huge multifunction copying machines used in operating an organization; they also include machinery, tools, raw materials, components, and buildings used to produce other items for resale.

Question 5

Capital items

Answer 5

Products that are long-lived and relatively expensive.

Question 6

Expense items

Answer 6

Less costly products that are consumed within a year.

Question 7

Installations

Answer 7

Major capital items, such as new factories, heavy equipment and machinery, and custom-made equipment.

Question 8

Accessory equipment

Answer 8

Also includes capital items, they’re usually less expensive and shorter lived than installations and involve fewer decision makers. Example: hand tools and fax machines

Question 9

Component parts & Materials

Answer 9

Are finished business goods that become part of a final product. Example: disk drives sold to computer manufacturers

Question 10

Raw materials

Answer 10

Are farm and natural products used in producing other final products. Example: milk, wood, leather, and soybeans.

Question 11

Supplies

Answer 11

Are expense items used in a firms daily operation that do not become part of the final product.