Chapter 6 Creating and Managing Products Flashcards
Convenience products
Products that are frequently purchased with little effort
Eg staples - milk
Impulse products- chocolate
Emergency products - band aids
Consumer products
Durable
Non-durable
Durable : products that provide a benefit over a long period - fridge, cars, furniture, appliances
Non-durable: products that provide a benefit over a short time - toothpaste, food, newspapers
Shopping products
Products that are selected with considerable time and effort
Attribute based: shoes and laptop
Price based: water heater
Limited problem solving
Specialty products
Products that have unique characteristics to the buyer
Favourite restaurant, Rolex watch , Apple Mac laptop
Unsought products
Products that consumers have little interest in until need arises
Insurance , superannuation plans
Business to business products
Equipment : capital equipment (buildings) Accessory equipment (computer terminals)
Business to business products
Maintenance repair and operating products
Maintenance products: light bulbs, mops
Repair products: nuts, bolts
Operating products: paper, oil
Business to business products
Raw materials : iron, ore
Business to business products
Processed materials: sheets of steel
Business to business products
Specialised services: legal services
Business to business products
Component parts: car water pump
Good
A tangible product that we can see , touch, smell, hear, taste
Core product
Consists of all the benefits the product will provide for consumers
Eg the core product of a car is transportation , image enhancement etc
The actual product
The physical good or the delivered service that supplies the desired benefit(core product)
Actual product of a car is the engine size, colour, body size, body style , model name, workmanship, interior design
The augmented product
The supporting features such as warranties, credit purchase facilities, delivery , installation, product use instruction
