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11 Cards in this Set
- Front
- Back
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product
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good, service, or idea consisting of tangible and intangible features that satisfies consumers and is received in exchange for money or something else of value.
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services
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intangible activities or benefits that an organization provides to consumers in exchange for money or something else of value.
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consumer products
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products purchased by the ultimate consumer.
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business products
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products that assist directly or indirectly in providing products for resale.
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product item
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specific product that has a unique brand, size, or price.
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product line
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group of products that are closely related because they are similar in terms of consumer needs and uses, market segments, sales outlets, or prices.
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product mix
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all the product lines offered by a company.
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four l's of services
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four unique elements that distinguish services from goods: intangibility, inconsistency, inseparability, and inventory.
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idle production capacity
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when the supply of the service exceeds demand for it.
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new-product process
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sequence of activities a firm uses to identify business opportunities and convert them into salable goods or services.
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customer experience management (CEM)
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process of managing the entire customer experience within the firm.
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