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Related Flashcards
Related Topics
Cards In This Set
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Product
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Everything, both favorable and unfavorable, that a person receives in an exchange
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Business product (industrial product)
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A product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers
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Consumer product
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A product bought to satisfy an individual's personal wants
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Convenience product
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A relatively inexpensive item that merits little shopping effort
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Shopping product
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A product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores
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Specialty product
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A particular item that consumers search extensively for and are very reluctant to accept substitutes
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Unsought product
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A product unknown to the potential buyer or a known product that the buyer does not actively seek
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Product item
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A specific version of a product that can be designated as a distinct offering among an organization's products
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Product line
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A group of closely related product items
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Product mix
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All products that an organization sells
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Product mix width
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The number of product lines an organization offers
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Product line depth
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The number of product items in a product line
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Product modification
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Changing one or more of a product's characteristics
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Planned obsolescence
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The practice of modifying products so those that have already been sold become obsolete before they actually need replacement
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Product line extension
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Adding additional products to an existing product line in order to compete more broadly in the industry
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