9086044
Description
Flashcards by Kathleen Keller, updated more than 1 year ago
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Created by Kathleen Keller
almost 7 years ago
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| Question | Answer |
| Everything, both favorable and unfavorable, that a person receives in an exchange. | Product |
| A product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers. | Business (Industrial) Product |
| A product bought to satisfy an individual's personal wants. | Consumer Product |
| A relatively inexpensive item that merits little shopping effort. | Convenience Product |
| A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores. | Shopping Product |
| A particular item that consumers search extensively for and are very reluctant to accept substitutes. | Specialty Product |
| A Product unknown to the potential buyer or a known product that the buyer does not actively seek. | Unsought Product |
| A specitic version of a product that can be designated as a distinct offering among an organization's products. | Product as an ITEM |
| A group of closely related product ITEMS. | Product LINE |
| All products that an organization sells. | Product MIX |
| The number of product lines an organization offers. | Product Mix Width (Breadth) |
| The number of product ITEMS in a product LINE. | Product Line Depth |
| Changing one or more of a product's characteristics. | Product Modifications |
| The practice of modifying products so those that have already been sold become obsolete before they actually need replacement. | Planned Obsolescence |
| Adding additional products to an existing product line in order to compete more broadly in the industry. | Product Line Extension |
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