Marketing Management: Chapter 10

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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


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