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18 Cards in this Set

  • Front
  • Back
Product
A needs satisfying offering of a firm
Convenience Products
Products consumers need but are not willing to spend much time or effort shopping for
Shopping Products
Products consumers feel are worth the time and effort to compare with competing products.
Homogeneous Shopping Products
Products consumers see as the same and choose only on price
Heterogeneous Shopping Products
Consumers see as different and choose on attributes
Specialty Products
Products consumers really want and make special effort to find. No substitute exists in the consumers mind
Unsought Products
Products potential customers do not yet want or know they can buy
New Unsought Products
products offering really new ideas that potential customers don't know about
Regularly Unsought Products
consumers know of the products but don't want to buy yet
Product Line
A set of closely related products offered by a company
Product Assortment
The set of all product lines and individual products that a company sells
Branding
The use of a name, term, symbol, design, or combination of these to identify a product
Brand Equity
The value of a brand's overal strength in the market
Brand Extension
Extend a brand name to a new product category
Line Extension
add more products to the current products Line
Packaging
Promoting and Protecting the product
Product Life Cycle
Market Introduction
Market Growth
Market Stability
Sales Decline
New Product Development Process
Idea Generation
Screening
Idea Evaluation
Development
Commercialization