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Definition
| An intangible task that satisfies consumer or business user needs |
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| Products with unique characteristics that cause the buyer to prize them and make a special effort to obtain them. |
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| Blend of four elements of a marketing strategy – product, price, distribution, and promotion |
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| Capital investment of a business, such as a new factory or heavy machinery, that typically is expensive and relatively long-lived. |
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| Products, such as farm products (wheat, cotton, soy beans) or natural products (coal, lumber, iron ore), used by business in producing a final product |
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| total quality management (TQM) |
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Definition
| Movement that asks all employees in a firm to continually improve products and work processes with the goal of achieving customer satisfaction and world-class performance, |
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Definition
| Intangible product a firm buys to facilitate its production and operating processes. |
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| component parts and materials |
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Definition
| Finished business products also known as fabricated parts and materials that become part of a final product. |
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| Four stages through which a successful product passes: introduction, growth, maturity, and decline. |
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| Products purchased only after the consumer compares competing offerings from competing vendors on bases such as price, quality, style, and color. |
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Definition
| Capital item, usually less expensive and shorter-lived than an installation, such as a laptop computer. |
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| Tangible product that customers can see, hear, smell, taste, or touch |
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| Regular expense items necessary in the firm's daily operation, but not part of the final product |
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Definition
| Bundle of physical, service, and symbolic attributes designed to enhance buyer want satisfaction. |
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Definition
| Good or service that the consumer wants to purchase frequently, immediately, and with a minimum of effort. |
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Definition
| A series of related products |
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Term
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Definition
| A company’s assortment of product lines and individual offerings. |
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