Term
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Definition
| An idea, a physical entity, a service, or any combination of the three that is an element of exchange to satisfy individual or business objectives. |
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Term
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Definition
1.)Goods 3.)Consumer Products
2.)Services 4.)Business Products |
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Term
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Definition
| Exists when a firm's offerings differ from those of competing firms on any attribute. |
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Term
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Definition
| Physical products with form and substance. |
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Term
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Definition
| Non-physical products usually involving an action or activity. |
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Term
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Definition
| Products used by consumers for their own use and satisfaction. |
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Term
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Definition
| Products used in the running of a business. |
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Term
| 3 kinds of Consumer Prooducts ( and example) |
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Definition
1.)Convenience(bread)
2.)Shopping(Car)
3.)Specialty(Rolex watch)) |
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Term
| 3 types of Convenience Products (and examples) |
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Definition
1.)Staples(bread, toothpaste)
2.)Impulse(candy, magazines)
3.)Emergency(candle, band aid) |
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Term
| 3 kinds of Business Products (and example) |
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Definition
1.)Capital (fax machine)
2.)Production (steel)
3.)Operational (lightbulb) |
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