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| A tangible physical entity, such as an ipad or a quiznos sandwich. |
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| an intangible result of the application of human and mechanical efforts to people or objects |
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| a concept, philosophy, image, or issue. |
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| products purchased to satisfy personal and family needs. |
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| products bought to use in a firm's operations, to resell, or to make other products. |
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| relatively inexpensive, frequently purchased items for which buyers exert minimal purchasing effort |
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| items for which buyers are willing to expend considerable effort in planning and making effort. |
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| items with unique characteristics that buyers are willing to expend considerable effort to obtain |
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| products purchased to solve a sudden problem, products of which customers are unaware, and products that people do not necessarily think of buying |
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| include facilities, such as office buildings, factories, and warehouses, as well as major pieces of equipment that are nonportable, such as production lines and very large machines. |
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| equipment that does not become part of the final physical product but is used in production or office activities |
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| basic natural materials that become part of a physical product |
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| items that become part of the physical product and are either finished items ready for assembly or items that need little processing before assembly |
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| materials that are used directly in the production of other products but are not readily identifiable |
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| Maintenance, repair, and operating items that facilitate production and operation but do not become part of the finished product |
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| intangible products that many organizations use in their operations |
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| a specific version of a product that can be designated as a distinct offering among a firm's products |
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| A group of closely related product items viewed as a unit because of marketing, technical, or end use considerations. |
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| the composite, or total, group of products that an organization makes available to customers |
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| the number of product lines a company offers |
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| the average number of different products offered in each product line |
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| the progression of a product through four stages: introduction, growth, maturity, and decline. |
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| the initial stage of a products life cycle; its first appearance in the marketplace when sales start at zero and products are negative |
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| the product life cycle stage when sales rise rapidly, profits reach a peak, and then they start to decline |
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| the stage of a products life cycle when the sales curve peaks and starts to decline, and profits continue to fall |
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Definition
| the stage of a products life cycle when sales fall rapidly |
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| the five stage process of buyer acceptance of a product: awareness, interest, evaluation, trial, and adoption |
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Definition
| the first to adopt a new product; they tend to be venturesome |
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| people who adopt new products early, choose new products carefully, and are viewed as "the people to check with" by later adopters |
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| individuals who adopt a new product just prior to the average person |
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| skeptics who adopt new products early when they feel it is necessary |
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| the last adopters who distrust new products |
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