MAR Exam 3 Flashcards
What is a product?
A good, service, idea or combination of these
Defintion of a service
A largely intangible offering, resulting from an application of human or mechanical efforts
Consumer products are..
Purchased to satisfy personal and family needs and are classified according to how buyers behave
Conveinece product
relatively inexpensive, frequent purchases
Shopping products are different from consumer products because…
require more effort in planning/purchasing
Specaility products are different because..
they have unique characteristics
Rolex, Gucci…
Unsought products..
are only sought out when they need them like tow trucks and plumbing
Business products are..
purchased to use for operations, to resell, or to use in manufacture of other products
Internet of things is defined as
a concept recognizing that billions of products that have been connected to the internet
Smart fridge, thermostat
Core products are defined as…
The physical or intangible service that the customer receives
Branded products are different than core products because..
branded products are the core products PLUS the characteristics that allow the consumer to differentiate it from similar products
Augmeneted products have..
charactertistics that enhance value beyond that of the core AND branded product
delivery, repair, warranty etc…
A product line consists of…
closely related products marketed by an organization
oreo line, advil, etc..
product line depth is defined as
the number of products in a product line
All the different kinds of oreos
product line width is different then product line depth because…
the number of different lines that a company markets in a particular category
Nabisco owns oreo, ritz, nutter butter
