Term
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Definition
•Tangible good, service, or
idea that satisfies needs; a
bundle of attributes |
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Term
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Definition
vs
•Benefits the consumer will
receive when buying the
product
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Term
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Definition
•A tangible product,
something we can see,
touch, smell, hear, taste,
or possess |
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Term
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Definition
• Services, ideas, people,
places |
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Term
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Definition
| all the benefits that the product will provide |
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Term
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Definition
| actual product plus supporting features |
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Term
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Definition
| frequently purchased nondurable products that are purchased with a minimum of time and effort. Typically these products are low priced. |
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Term
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Definition
| basic necessities. Gasoline and milk are a couple of examples |
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Term
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Definition
| bought on the spur of the moment. Candy bars in the checkout line are examples |
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Term
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Definition
•purchased immediately because of a dire
need. Some examples include drain cleaner
(when the sink is stopped or overflowing),
diapers (when the baby is wet and none are in
the house). |
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Term
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Definition
| are purchased after considerable time and effort is spent gathering information related to prices, stores, different features offered by different manufacturers, and product quality |
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Term
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Definition
| we look for the best possible product. Example – shoes |
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Term
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Definition
| have unique characteristics important to buyers at almost any price. |
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Term
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Definition
| tend to be higher priced, and are often much more important in the long-term than emergency products. Personal selling is often the key to selling many types |
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Term
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Definition
| produced by firms when they transform raw materials from their original state |
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Term
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Definition
| manufactured goods or subassemblies of finished items that organizations need to complete their own goods |
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Term
Dynamically continuous innovation:
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Definition
| A pronounced modification to an existing product |
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Term
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Definition
A totally new product
•Creates major changes in the way we live
•Consumers must engage in a great deal of new learning |
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