Marketing Ch. 10

Good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value

Has tangible attributes that a consumer's five senses can perceive

An item consumed in one or a few uses.
Ex: food or fuel

An item that usually lasts over many uses, such as appliances, cars, and mobile phones

Are intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
Services exceed 40% of GDP in the US market

Is a thought that leads to an action such as a concept for a new invention, or getting people out to vote

Are purchased by the ultimate consumer

Also called B2B products or industrial products.
Are products that organizations buy that assist in providing other products for resale.

A computer

Items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.
Ex: soft drinks, snacks, inexpensive items

Items for which the consumer compares several alternatives on criteria such as price, quality, or style.
Ex: restaurant meals, clothes, small appliances

Items that the consumer makes a special effort to search out and buy.
Ex: cars, houses, jewelry, vacations

Items that the consumer does not know about or knows about but does not initially want.
Ex: insurance, medical procedures, root canal

Items that become part of the final product.
Ex: lumber, parts

Items used to assist in producing other goods and services.
Installations, Accessory Equipment, Supplies, and Industrial Services.