Marketing Management: Chapter 10
product line
a group of closely related product items
specialty product
a particular item for which consumers search extensively and are reluctant to accept substitutes; hard to find
shopping product
a product that requires comparison shopping, because its usually more expensive and found in fewer stores
unsought product
a product unknown to the potential buyer or a known product that the buyer does not actively seek
convenience product
a relatively inexpensive item that merits little shopping effort; cheap, not a lot of thinking put into buying it
product item
a specific version of a product that can be designated as a distinct offering among an organization's products; a single product
product line extension
adding additional products to an existing product line in order to compete more broadly in the industry
style modification
aesthetic product change rather than a quality or functional change
product mix
all products that an organization sells
product
anything that could be given in an exchange
quality modification
change in a product's dependability or durability
functional modification
change in a product's versatility, effectiveness, convenience, or safety
protect, promote, storage, convenience, recycling
contain and ________; ___________; facilitate ________, use, and _______________; facilitate ______________
Ramen
example of a convenience product
washing machine
example of a shopping product
Rolex watch
example of a specialty product
life insurance
example of an unsought product
product
good, service, or idea
product line depth
the number of product items in a product line; attracts buyers with different preferences, increases sales/profits by further market segmentation
product mix width
the number of product lines an organization offers; diversifies risk, capitalizes on established reputations
planned obsolescence
the practice of modifying products so that those that have already been sold become obsolete
consumer and business
two types of products
convenience, shopping, specialty, unsought
types of consumer products