1. a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value
  2. Are the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange of money or something else of value
  3. Are products purchased by the ultimate consumer
    Consumer Products
  4. Are products that assist directly or indirectly in providing products for resale. also called B2B goods, industrial goods, or organizational goods.
    Business Products
  5. Is a specific product that has a unique brand, size or price
    Product item
  6. is a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are type of outlets, or fall within a given price range.
    Product Line
  7. consists of all of the product lines offered by an organization
    Product mix
  8. conists of the four unique elements to services: intangibility inconsistency, inseparability, and inventory.
    Four I's of Service
  9. occurs when the service provider is available but there is no demand for the service
    Idle production capacity
  10. consists of the stages an organization goes through to identify business opportunities and convert them to a salable good or service
    New-product process
  11. is the process of managing the entire customer experience within the company
    Customer Experience Management (CEM)
Card Set
Developing New Products and Services