Chapter 7 Flashcards
good
a tangible product that we can see, touch, smell, hear, or taste
intangibles
experience-based products
attributes
includes features, functions, benefits, and uses of a product
core product
all the benefits the product will provide for consumers or business customers
actual product
the physical good or the delivered service that supplies the desired benefit
augmented product
the actual product plus other supporting features
durable goods
provide benefits over a long period of time
nondurable goods
provide benefits for a short period of time
convenience product
a consumer good or service that is usually low-priced, widely available, and purchased frequently with a minimum of comparison and effort
staples
basic or necessary items that are available almost everywhere
impulse products
a product people often buy on the spur of the moment
emergency products
products we purchase when we’re in dire need
shopping products
goods or services consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
intelligent agents
computer programs that find sites selling a particular product
specialty products
goods or services that have unique characteristics and are important to the buyer and for which she will devote significant effort to acquire
unsought products
goods or services a consumer has little awareness or interest until the product or a need for the product is brought to her attention
equipment
expensive goods which last a long time that an organization uses in its daily operations
MRO products
maintenance, repair, and operating, goods that a business customer consumes in a relatively short time
raw materials
products of industries that organizational customers purchase to use in their finished products
processed materials
products created when firms transform raw materials from their original state
component parts
manufactured goods or subassemblies of finished items that organizations need to complete their own products
intagibility
the characteristic of a service that means customers can’t see, touch, or smell good service
perishability
the characteristic of a service that makes it impossible to store for later sale or consumption
capacity management
the process by which organizations adjust their offerings in an attempt to match demand
variability
the characteristic of a service that means that even the same service performed by the same individual for the same customer can vary
inseperability
the characteristic of a service that means that it is impossible to separate the production of a service from the consumption of that service
service encounter
the actual interaction between between the customer and the service provider
