Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
What are the 5 ways that products can be in the same product line?
|
They are closely related by:
1.) Satisfying the same need 2.) Used together 3.) Sold to the same customer group 4.) Sold through the same outlets 5.) Fall within the same price rang |
|
|
What is the hierarchy of products within a company?
|
Product Mix
Product Line Product Unit w/ SKUs |
|
|
What are 2 ways to classify products?
|
1.) Type of User
2.) Degree of Tangibility |
|
|
What are the 2 types of goods for the 2 types of users of products
|
1.) Consumer Goods - ultimate user purchases
2.) Business Goods - used to/for resale |
|
|
What are the 3 types of goods for the 3 degrees of tangibility?
|
1.) Nondurable - food
2.) Durable - appliances 3.) Services - intangible |
|
|
What are 4 special characteristics of services?
|
1.) Intangible - cannot touch it
2.) Inconsistent - b/c it relies on ppl to deliver 3.) Inseparability - hard to separate the provider w/ the service 4.) Inventory - problems with idle production capacity |
|
|
What are the degrees of newness?
|
1.) Continuous Innovation
2.) Dynamically Continuous Innovation 3.) Discontinuous Innovation |
|
|
What does a company need to do with a continuous innovation?
|
Just provide awareness and reach many distribution channels.
|
|
|
What does a company need to do with a dynamically continuous innovation?
|
Teach consumers about minor changes, inform them of the advantages over previous editions or competition.
|
|
|
What does a company need to do with a discontinuous innovation?
|
Raise awareness and educate since the product completely changes behavior.
|
