Product Flashcards
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need
Product
Everything, both favorable and
unfavorable, that a person
receives in an exchange.
Product
It is said to be the starting point
of the Marketing Mix (4Ps of
Marketing)
Product
Tangible
Good
Intangible
Service
Types of Product
Consumer
Product/ Business Product
A product used to manufacture other goods or services, to facilitate an organization’s operations or to resell to other customers
Business Product
A product bought to satisfy an individual’s personal wants
Consumer Product
are consumer products and
services that customers
usually buy frequently,
immediately, and with a
minimum of comparison and
buying effort.
Convenience Products
are less frequently purchased consumer products and services that cusstomers compare carefully on suitability, quality, preference, and style
Shopping Products
are consumer products and services with unique characteristics of rband indentification for which a significant group of buyers is willing to make a special purchase effort
Specialty PRoducts
are consumer products that
the consumer either does
not know about or knows
about but does not normally
think of buying.
Unsought products
Product Attributes
Quality, Features, Design
2 dimensions of quality
Level, Consistency
means quality consistency, freedom from defects, and consistency in delivering a targeted level of performance.
QUALITY
CONFORMANCE
are a competitive tool for differentiating the company’s product from competitors’ products.
PRODUCT FEATURES
another way to add customer
value.
Product Style and Design
describes the
appearance of a product.
STYLE
contributes to a
product’s usefulness as well
as to its looks.
Design
is the process of creating
a distinct identity for a
business in the mind of a
consumer.
Branding
is a name, term,
sign, symbol, or design, or a
combination of these, that
identifies the maker or
seller of a product or
service.
Brand
-help consumers identify
products that might
benefit them.
-say something about
product quality and
consistency.
BRAND NAMES:
protects the
product. It makes it easy for
consumers to handle and
store the product.
plays an
important role in
communicating brand
personality.
PACKAGING
identify the product
or brand, describe
attributes, and provide
promotion.
LABELING
