Marketing Chapter 9

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  1. Good
    Tangible product we can see, touch, smell, hear, or taste
  2. Durable goods
    Consumer products that provide benefits over a long period of time such as cars, furniture, and appliances
  3. Nondurable Goods
    Consumer products that provide benefits for a short time because they are consumed (such as food) or are no longer useful (such as newspapers)
  4. Convenience Product
    A consumer good or service that is usually low priced, widely available, and purchased frequently with a minimum of comparison and effort
  5. Shopping Product
    A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase.
  6. Specialty Product
    A good or service that has unique characteristics, is important to the buyer, and for which the buyer will devote significant effort to acquire
  7. Unsought product
    A good or service for which a consumer has little awareness or interest until the product or need for the product is brought to his/her attention
  8. Equipment
    Expensive goods an organization uses in its daily operations that last for a long time
  9. MRO Products
    Maintenance, Repair, and Operating Products: Goods that a business customer consumes in a relatively short time
  10. Raw Materials
    Products of the fishing, lumber, agricultural, and mining industries that organizational customers purchase to use in their finished products
  11. Processed Materials
    Products created when firms transform raw materials from their original state
  12. Specialized Services
    Services purchased from outside suppliers that are essential to the operation of an organization but are not part of the production of a product
  13. Component Parts
    Manufactured goods or subassemblies of finished items that organizations need to complete their own products
  14. Innovation
    A product that consumers perceive to be new and different from existing products
  15. Continuous Innovation
    A modification of an existing product that sets one brand apart from its competitors
  16. Knockoff
    A new product that copies with slight modification the design of an original product
  17. Dynamically continuous innovation
    A change in an existing product that requires a moderate amount of learning or behavior change
  18. Convergence
    The coming together of two or more technologies to create a new system with greater benefits than its parts
  19. Discontinuous innovation
    A totally new product that creates major changes in the way we live
Card Set
Marketing Chapter 9
Marketing Chapter 9
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