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Marketing > Product > Flashcards

Product Flashcards

1
Q

It is a tangible or intangible goods, service, or ideas.

A

product

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2
Q

It is a kind of product that you can physically touch or hold.

A

tangible products

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3
Q

It is a kind of product that offers service or idea, and cannot be touch.

A

intangible products

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4
Q

These are activities, benefits, and satisfication which are offered for sale or are provided in connection with the sale of goods

A

service

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5
Q

It is a product which involves experiential aspects of consumption rather than utilitarian ones.

A

experience

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6
Q

This type of product allows consumers to engage in fantasies, feelings, and fun.

A

experience

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7
Q

Give the 3 product levels

A

core or generic products, formal products, and augmented products

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8
Q

This product level provides the products main function or purpose

A

core or generic products

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9
Q

This product level includes factors that could effectively differentiate your product to others

A

formal products

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10
Q

This product level have supporting services that surrounds the product

A

augmented products

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11
Q

What are the 4 classifications of products/goods

A

according to use, according to durability, according to differentiation, and according to types

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12
Q

What are under according to use

A

consumer goods and industrial goods

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13
Q

What are under according to durability

A

consumables, semi-durable, and durable

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14
Q

What are under according to differentiation

A

differentiated goods and undifferentiated goods

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15
Q

What are under according to types

A

convenience goods, shopping goods, unsought goods, and specialty goods

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16
Q

This is a personal or household consumptions

A

consumer goods

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17
Q

This is a raw materials/production of other goods

A

industrial goods

18
Q

It is either edible or non-edible product that has short period of usage

A

consumables

19
Q

It has a longer period of usage (clothes, shoes, etc.)

A

semi-durables

20
Q

It has a longest period of usage (home appliances, house, etc.)

A

durables

21
Q

Its product is branded

A

differentiated goods

22
Q

Its product is not branded

A

undifferentiated goods

23
Q

It is inexpensive and frequently purchased (foods)

A

convenience goods

24
Q

It us less frequently purchased (clothes, bags, shoes, etc.)

A

shopping goods

25
Q

It requires a lot of effort and money to buy and not frequently purchased (car, house, etc.)

A

specialty goods

26
Q

It is seldom to purchase (investments, plans, etc.)

A

unsought goods

27
Q

What is 7NPD stands for?

A

7 New Product Development

28
Q

What are the 7NPD process?

A

idea generation, idea screening, concept development and testing, business analysis, product development, marketing testing, and product commercialization

29
Q

It is the systematic search for new product ideas

A

idea generation

30
Q

It can come from company employees, research and design department, distributors, suppliers or even competitors

A

idea generation

31
Q

This is the filtering of ideas using predetermined criteria (SWOT analysis, feasibility study, etc.)

A

idea screening

32
Q

It’s where the new product ideas are converted to customer-centered product concepts and tested by groups of target consumers for acceptability, believability, purchased intent, and customer value on the concept

A

concept development and testing

33
Q

It is called the pencil-pushing stage where probable sales of the new products are calculated together with it’s cost and potential profitability

A

business analysis

34
Q

It is the stage where the product concept is converted into a tangible working prototype

A

product development

35
Q

The converted tangible product is now marketed in a limited area to determine whether fine-tuning is necessary

A

marketing testing

36
Q

The new product is being introduced to the market. It is also the last stage of the process.

A

product commercialization

37
Q

Physical product has 2 added components

A

packaging and labeling

38
Q

It is the wrapping material around the product that serves to contain, identify, describe, display, promote, and make the product more marketable and keeping it clean

A

packaging

39
Q

Consumers sometimes notice and buy products though this

A

packaging

40
Q

It is the display of information about a product on its container, packaging or on the product itself

A

labeling

Marketing (4 decks)

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