Chapter 8 Flashcards
product
anything that can be offered to a market (includes services, events, persons, places) for acquisition, use, or consumption that might satisfy a want or need
services
form of a product; intangible and does not result in the ownership of a anything
experiences
customers buying much more than just products and services; buying what those offers will do for them
levels of product and services
- core customer value
- actual product
- augmented product
product and service classifications (2)
consumer products and industrial products
consumer products
products and services bought by final consumers for personal consumption
consumer products include (4)
- convenience products
- shopping products
- specialty products
- unsought products
industrial products (3)
- materials and parts
- capital items
- supplies and services
branding
identifies the maker or seller; customers attach meanings
packaging
should perform sales tasks such as attracting buyers, communicating brand positioning, closing the sale
product line
a group of products that are closely related because they function in a similar manner, sold to the same customer groups, marketed throughout he same types of outlets, or fall within given price ranges
ex. nike lines of shoes
product length line
the number of items in the product line
line filling
adding more items within the present price range
product line stretching
adding products that are higher or lower priced than the existing line; downward, upward, or two way stretch
characteristics of a service (4)
- service intangibility (uncertainty)
- inseparability
- variability
- perishability