Week 5 - Products - offering customer value and marketing analytics Flashcards
What is a consumer product?
What is an industrial product?
What are the 4 categories of consumer products?
Convenience products, shopping products, speciality products, unsought products
What are the classifications of industrial products?
Raw material, manufactured material, capital items, supplies and services
What are the 3 levels of a product?
Core product, actual product, augmented product
What is a product line?
set of products that are similar or complimentary
What is a product mix?
all the products that a company sells
What is product line depth?
the number of items in a product line
What is product mix width?
the number of product lines a brand holds
What is product line filling?
adding products to product line to ensure competitors do not enter the market
What is product line stretching?
adding more product lines
What are the 3 ways a business can stretch its product line?
Stretching upward, Stretching downwards, Stretching both up and down wards
What is cradle-to-cradle packaging?
takes the waste out of the life cycle of a package. The package is designed to be something that can be reused or 100 percent recycled.
