Ch 10 outline - Developing New Products& Services Lesson...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

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

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

Unformatted text preview: Developing New Products & Services Lesson Objective 1: Recognize the various terms that pertain to products and services Product: good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers’ needs and is received in exchange for money or something else of value. Good : tangible that the 5 senses can perceive. (ex. iPhone) 1. Nondurable good: item consumed in 1 or few uses such as food and fuel ex. Wrigley’s gum, gets ADVERTISED 2. Durable good: lasts over many uses, such as appliances, cars and mobile phones ex. Cars, get PERSONALLY SOLD Services: intangible activities or benefits than organization provides ex. accountant filling out your tax return Idea: a thought that leads to an action such as a concept for new invention or getting people to vote Lesson Objective 2: Classifying business products and services. Consumer products: products purchased by the ultimate consumer 1. Convenience products: frequently purchased, conveniently, minimum effort ex. toothpaste, cake mix, hand soap 2. Shopping products: compares alternatives on price, quality or style ex. cameras, tvs, briefcases, airline tickets 3. Specialty products: special effort to search out and buy ex. rolls Royce car, Rolex watch, heart surgery 4. Unsought products: items a consumer doesn’t know about or knows about but does not initially want to buy. ex. burial insurance, thesaurus Business products: products that an organization buys that assists in providing other products for resale- Business product sales are a result of derived demand: sales of the products are derive from the sale of consumer products....
View Full Document

This note was uploaded on 03/25/2011 for the course MARKETING 630:301 taught by Professor Bhatia during the Spring '11 term at Rutgers.

Page1 / 4

Ch 10 outline - Developing New Products& Services Lesson...

This preview shows document pages 1 - 2. Sign up to view the full document.

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