Chapter 8

Front 1

product

Back 1

anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

Front 2

service

Back 2

an activity, benefit, or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything

Front 3

three levels of product

Back 3

1. Core customer value

2. Actual product: brand name, quality level, packaging, design, features,

3. Augmented product: delivery and credit, product support, warranty, after-sale service

Front 4

1. Convenience product

2. Shopping product

Back 4

1. product that customers usually buy frequently, immediately, and with a minimum of comparison and buying effort.

2. less frequent, shoppers compare carefully on suitability, quality, price and style

Front 5

3. Specialty Product

4. Unsought product

Back 5

3. unique characteristics or band identification for which a significant group of buyers is willing to make a special purchase effort

4. consumer either does not know about or knows about but does not normally think of buying

Front 6

diffusion of innovations theory

Back 6

a social sciences theory that divides member of a social group into segments according to how likely they are to adopt a new idea

Front 7

Technology Adoption Life Cycle

Back 7

A marketing theory that proposes that when marketing a technology product, marketers must cross a chasm, or significant gap, between members of the early adopters segment, before a new product will become successful.

Front 8

8 major stages in new product development

Back 8

1. Idea generation, 2. Idea Screening, 3. Concept development and testing, 4. Marketing strategy development, 5. Business analysis, 6. Product development, 7. Test marketing, 8. Commercialization

Front 9

Crowdsourcing

Back 9

Inviting broad communities of people such as customer, employees, independent scientist and researchers, and even the public at large, into the new product innovation process.

Front 10

product life cycle

Back 10

The course of a products sales and profits over its lifetime.
1. Product development, 2. Introduction, 3. Growth, 4. Maturity, 5. Decline

Front 11

1. packaging and labelling

2. sustainable packaging

Back 11

1. Protection, Promotion, Information, Convenience, Unitization, Handling

2. Packaging that meets the requirements of the product while minimizing the environmental, etc. impacts of the product and its package

Front 12

special characteristics of services

Back 12

Intangibility, Inseparability, Variability, Perishability