Study Guide chapters 8_9

Study Guide chapters 8_9 - Marketing125 StudyGuide Chapter8

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Marketing 125 Study Guide Chapter 8 Product  refers to the need-satisfying offering of a firm. Quality  refers to a product’s ability to satisfy a customer’s needs or requirements. Service  is a deed performed by one party for another. Product assortment  is the set of all product lines and individual products that a firm sells. Product line  is a set of individual products that are closely related. Individual product  is a particular product within a product line. Consumer products  are products meant for the final consumer. Business products  are products meant for use in producing other products. Derived demand  is the demand for business products derives from the demand for final  consumer products. Convenience products  are products a consumer needs but isn’t willing to spend much time or  effort shopping for. Staples  are products that are bought often, routinely, and without much thought. Impulse products  are products that are bought quickly. Emergency products  are products that are purchased immediately when the need is great. Shopping products  are products that a consumer feels are worth the time and effort to  compare with competing products. Homogeneous shopping products  are shopping products the consumer sees as basically the  same and wants at the lowest price. Heterogeneous shopping products  are shopping products the consumer sees as different  and wants to inspect for quality and suitability. Elements of Product  Planning for Goods and  Product Classes Consumer product  classes Branding Individual or family Product Idea Physical  good/ service Experience Features Benefits Packaging Protection Promotion Warrant y None Limited Full
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Specialty products  are consumer products that the consumer really wants and makes a  special effort to find. Unsought products  are products that potential customers don’t yet want or know they can buy. New unsought products  are products offering really new ideas that potential customers don’t  know about yet. Regularly unsought products  are products like gravestones, life insurance that stay unsought  but not unbought forever.
Background image of page 2
Consumer Product Class Marketing Mix Considerations Consumer Behavior Convenience Products Staples Maximum exposure required;  with widespread, low-cost  distribution; mass selling by  producer; usually low price;  branding is important Routinized (habitual), low  effort, frequent purchases; low  involvement Impulse Widespread distribution  required, with display at point  of purchase. Unplanned purchases bought 
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 10

Study Guide chapters 8_9 - Marketing125 StudyGuide Chapter8

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online