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15 Cards in this Set
- Front
- Back
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business services
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Intangible products that firms buy to facilitate their production and operating processes.
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business-to-business (B2B) product
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Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product.
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consumer product
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Product destined for use by ultimate consumers.
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convenience products
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Goods and services that consumers want to purchase frequently, immediately, and with minimal effort.
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good
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Tangible product that customers can see, hear, smell, taste, or touch.
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marketing mix
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Blending of the four strategy elements—product, distribution, promotion, and pricing—to fit the needs and preferences of a specific target market.
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product
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Bundle of physical, service, and symbolic attributes designed to satisfy a customer’s wants and needs.
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product life cycle
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Progression of a product through introduction, growth, maturity, and decline stages.
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product line
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Series of related products offered by one company.
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product mix
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Assortment of product lines and individual product offerings that a company sells.
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service
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Intangible task that satisfies the needs of consumer and business users.
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service quality
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Expected and perceived quality of a service offering.
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shopping products
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Products that consumers purchase after comparing competing offerings.
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specialty products
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Products that offer unique characteristics that cause buyers to prize those particular brands.
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total quality management (TQM)
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Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world-class performance.
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