OL SA C10 F10 - Principles of Marketing Chapter 10 F10...

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Principles of Marketing Name: Aaron Rumley Chapter 10 – F10 Online Chapter 10 1. How would a marketer define the term product? Product: Everything, both favorable and unfavorable, that a person receives in an exchange. 2. Products can be classified as either business/industrial or consumer products. Explain what distinguishes business products from consumer products. Explanation: their intended use, if intended as a business purpose, it’s a business product, consumer product is bought to satisfy a person’s individual want. 3. Briefly define the four categories of consumer products. Convenience: Relatively inexpensive item that merits little shopping effort. Shopping: Product that requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores. Speciality: Particular item that consumers search extensively for and are very reluctant to accept substitutes. Unsought: Product unknown to the potential buyer or a known product that the buyer does not actively seek. 4. What is the difference between a homogeneous shopping product and a heterogeneous shopping product?
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