chapter 10 - Product good, service, or idea consisting of...

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Product – good, service, or idea consisting of tangible and intangible features Product line – groups of products that are closely related because they satisfy a class of needs, are used together, or sold to the same group of customers Product mix – all the product lines offered by a company Consumer goods – products purchased by the Ultimate Consumer (for private use) o Convenience goods – low effort, frequent purchases o Shopping goods – everyday use, consumer does comparison o Specialty goods – special effort to search out and buy o Unsought goods – item that is unknown or not wanted Business goods – products that assist in providing products for resale o Derived demand – demand from finished product increases demand for parts o Production goods – raw materials o Support goods – installations, accessories, supplies, and services Services – intangible activities that an organization provides a customer o Inconsistency – each person cannot perform the same task in the same manner
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This note was uploaded on 04/14/2010 for the course AEM 2400 taught by Professor Mclaughlin,e. during the Fall '07 term at Cornell University (Engineering School).

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chapter 10 - Product good, service, or idea consisting of...

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