WEEK 2 Flashcards
is anything that is offered to a market for attention, acquisition, use,
or consumption, and that satisfy a want or a need. It includes
physical objects, services, persons, places, organizations, and
ideas, or mix of these entities.
Product
intangible
Sevices
Tangible
Goods
is a form of product that consist of activities, benefits, or
satisfaction offered for sale that are essentially intangible and do
not result in the ownership of anything.
Service
It consist of physical items that can be touched and seen.
Pure tangible goods
The major offering are goods and gives services such as an
automobile that offers accompanying repair services.
Tangible goods with accompanying services
consist of equal parts of good and services such as restaurant.
Hybrid offers
Major offerings are services but gives minor goods such as airline
trips with accompanying snacks
Services with accompanying minor goods
It consist of efforts from the service provider such as those offered
by doctors, teachers, and ophthalmologists.
Pure services
represent what buying the product or service will do for the
customer. These are memorable while some products and services
are not.
Customer experience
It is the core, problem-solving service, or core
benefit that consumers are really buying when
they obtain a product or service
Core product
This may have as many as five characteristics that are combined to
deliver core product benefits.
Actual product
Actual product consist of
1.Brand Name
2.Quality level
3.Packaging
4.Design
5.Features
It includes any additional consumer services and benefits built
around the core and actual
products.
Augmented product
Augmented product consist of
1.Delivery and Credit
2.Product Support
3.Warranty
4.After-sales Services
are those bought by individuals and organizations for further
processing or for use in conducting a business
Industrial product
are those bought by final consumer for personal consumption
Consumer product
Product Classification
Industrial product
Consumer products
are consumer products and services that the consumer usually
buys frequently, immediately, and with a minimum of comparison
and buying effort.
Convenience products
are consumer products that the consumer, in the process of
selection and purchase, characteristically compares on such bases
as sustainability, quality, price and style.
Shopping products
are consumer products with unique characteristics or brand
identification for which a significant group of buyers is willing to
make 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
most are sold directly to industrial users. These includes smaller
parts which will be assembled in the production area.
Materials and parts
these products aid in the buyers’ production or
operations, including machines, installations and accessory
equipment.
Capital Items
