Term
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Definition
| a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or something else of value. p. 196 |
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Term
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Definition
| Has tangible attributes that a consumer's five senses can perceive and intangible ones such as warranties A laptop computer is an example good can be divided into nondurable goods- consumed in one or a few uses and durable goods which usually last over many uses. Services are intangible activities or benefits. An idea is it.thought that leads to product or action such as eating healthier p.196 |
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Term
| 1. Business Products, 2. Consumer Products, 3. Services |
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Definition
| 1. a. components, raw materials, b. support products assist, supplies 2. a. convenience frequently minimum effort. b. shopping, compare. c. Specialty, special effort seek. 3. a. people or equipment. b. business firms or nonprofit. c. government agencies. p. 196 |
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Term
| Four unique elements of services |
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Definition
| intangibility, inconsistency, inseparability, inventory p. 199 |
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Term
| newness consumer learning new products services |
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Definition
| degree of learning, innovation discontinuous behavioral p. 201-2 |
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Term
| factors success failure new product or service |
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Definition
| insignificant points difference incomplete protocol satisfying bad timing little attractiveness poor quality execution economical access p. 203-4 |
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