Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

ENTREP 3RD QUARTER > LESSON 7 :PRODUCT : ITS NATURE AND SUSTAINABILITY > Flashcards

LESSON 7 :PRODUCT : ITS NATURE AND SUSTAINABILITY Flashcards

1
Q

-Refers to the tangible good or
intangible service offered by
the business to the target
consumers.
It must satisfy the
needs of the consumers better
than the other competing
products.

A

PRODUCT

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

ENUMERATE THE PRODUCT DESCRIPTION NECESSITIES:

A
  1. Cite the uniqueness of product over other existing products
    in terms of characteristics, variations and the like.
  2. Use layman’s term in describing the firm’s product or service. Present a product mix if the firm will be selling more than one product.
  3. Illustrate the usefulness of the product/service. Provide substantial information on effectiveness of marketing which includes positioning strategies.
  4. Present the nature including the content of raw materials that will be used in the proposed product, and what is the source and where to find it.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the level of Product

A

1.Tangible products
2.Augmented product
3.Generic product

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

*Are the basic physical appearance which can
be a service or idea having precise specifications and is offered under a given/specified description
or model number.

A

TANGIBLE PRODUCTS

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

*Includes the image and service features of a
certain entity. It gives emphasis on the
intangible benefits that the customer will be
getting from buying the product.

A
  1. AUGMENTED PRODUCT
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Emphasizes the impact of the product to the
consumer, not the seller. This will signify the purpose
of its existence and the primary objective in
creating the product.

A
  1. GENERIC PRODUCT
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

What is Types of Product

A

1.Goods
2.Services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

*Are sale of physical products from the
manufacturer to the consumer or final and
ultimate user.

A
  1. GOODS
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

WHAT ARE THE TYPES OF GOODS

A

a. Durable goods
b. Non-durable goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

the physical products that are used over a long period of time.

A

Durable goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

the physical products that are quickly and easily
be consumed or worn out, become obsolete, unfashionable or no longer popular.

A

Non-durable goods

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Are intangible products that satisfaction can be measured in future preferences.

A
  1. SERVICES
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

WHAT ARE THE TYPES OF SERVICES

A

a. Rented-goods services
b. Owned-goods services
c. Non-goods service

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

the consumer rented facility of the sellers in a certain period of time.

A

Rented-goods services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

are the repair and maintenance services rendered by the seller to the products of the customer.

A

Owned-goods services

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

personal service on the part of the seller; most common are the expertise and profession of the seller.

A

Non-goods service

17
Q
  1. Intangibility is the service that cannot be displayed,
    transported, stored, packaged or inspected before
    buying.
  2. The credibility of the service provided most of the time counts.
  3. Inseparability is the service provider and services that cannot be separated. It cannot accomplish the
    purpose if one is missing.
  4. Variability is when the service is difficult to standardize because it varies upon the performance of the provider.
A

CHARACTERISTICS OF SERVICES:

18
Q

These are goods and services destined/produced for the final consumer for personal, family, or household use.

A

CONSUMER PRODUCTS

19
Q

purchased with the minimum or less effort because the buyer has knowledge of product characteristics prior in shopping.*

A

Convenience products

20
Q

low priced items that are routinely
purchased on a regular basis and are products that
are used everyday. Examples : rice, soap,
toothpaste

A

Staples

21
Q

products are the items that the consumer does not plan to buy.

A

Impulse

22
Q

products that the consumers acquire through further knowledge and information in order to make final purchase decision.*

A

Shopping products

23
Q

products provide customers with information and evaluated product features, performance, options, warranties and other factors.

A

Attribute-based shopping

24
Q

products enables customers to judge product attributes to be the same and look around for the least expensive item.

A

Price-based shopping

25
Q

the items with particular brands
and stores to which consumers
are loyal.

A

Specialty products

26
Q

are goods or services purchased for
use/consumption in the
production/manufacturing of other goods or
services, in the operation of a business or for
resale to other customers.
Are used as raw materials of other
manufacturing entities.

A

INDUSTRIAL PRODUCTS

27
Q

ENUMERATE THE STAGES OF THE PRODUCT IN THE MARKET

A

1.Introductory stage
2.Growth stage
3.Maturity stage
4.Decline stage

28
Q

A new product is introduced into the
marketplace and the objective is to
generate customer interest.

A

1.Introductory stage

29
Q

The product gains
wider consumer
acceptance and the
objective are to
expand distribution and
the range of available
product alternatives.

A
  1. GROWTH STAGE
30
Q

The products sales
level and companies
try to maintain lower
price, better product
features for as long as
possible.

A

MATURITY STAGE

31
Q

The products sales
falls as substitutes,
and new
competitors enter
the market.

A

DECLINE STAGE

32
Q

ENUMERATE THE PRODUCT SATISFYING FEATURES

A

1.Design
2.Product Colors
3.Product Quality
4.Product Warrantees

33
Q

It matters to the elements that
collectively form of good or
service that will satisfy
customers and gain
competitive advantage.

A

DESIGN

34
Q

It is customers rejection or
acceptance of the product.
This could be true in clothing,
cars or furniture and other
fixtures.

A

PRODUCT COLORS

35
Q

This is set of features and
attributes of a product or
service that determine its
ability to satisfy human needs.

A

PRODUCT QUALITY

36
Q

It is the state where the buyer
is assured that the product
meets the specifications
stated in the product labels.

A

PRODUCT WARRANTEES

ENTREP 3RD QUARTER (9 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions