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14 Cards in this Set

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product line
group of products thatre closely related bc they satisfy a class of needs, r used together, and r sold to the same customer group
product
service, good, or idea that contains a bundle of tangible & intangible attributes that satisfies customer wants and is received in exchange 4 $$$
product mix
# of products sold by a company
2 ways to classify products
1- types of user
2- degree of product tangibility
2 types of products
consumer goods
business goods- prod that assist directly/indirectly in providing prod 4 resale
3 categories of prod tangibility
1- nondurable good
2- durable good
3- service
4 types of consumer good & how theyre classified
1- convience
2- shopping
3- specialty
4- unsought
classified by how often purchased, effort of decision, attributed used in purchase
2 types of business goods
1- production -> items used in manufacturing product
2- support -> items used in assisting in prod of other goods
types of support goods
installations
accessory equip
supplies
industrial services
3 ways customers looks at products being new
1- continuous innovation
2- dynamically contin innovation
3- discontinuous innovation
7 marketing reasons for new prod failures
1- insignificant point of difference
2- incomplete protocol
3- too little market attractiveness
4- poor execution of mark mix
5- poor product quality on crit factors
6- bad timing
7- no econ access to buyers
7 stages in new prod development
1- new prod strategy develop
2- idea generation
3- screening & evaluation
4- busin analysis
5- development
6- market testing
7- commercialization
6 sigma
means to delight the customer by achieving quality thru a highly disciplined process to develop & deliver near perfect products
slotting fee
failure fee
SF- for new products, a payment a manufacturer makes to place a new item on a retailer's shelf
FF- penalty payment manufact makes to compensate a retailer 4 sales its valuable shelf space failed 2 make