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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
Product
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Are the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange of money or something else of value
Services
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Are products purchased by the ultimate consumer
Consumer Products
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Are products that assist directly or indirectly in providing products for resale. also called B2B goods, industrial goods, or organizational goods.
Business Products
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Is a specific product that has a unique brand, size or price
Product item
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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
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consists of all of the product lines offered by an organization
Product mix
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conists of the four unique elements to services: intangibility inconsistency, inseparability, and inventory.
Four I's of Service
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occurs when the service provider is available but there is no demand for the service
Idle production capacity
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consists of the stages an organization goes through to identify business opportunities and convert them to a salable good or service
New-product process
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is the process of managing the entire customer experience within the company
Customer Experience Management (CEM)
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