Final Review - Test Review for 3 Product and Services for Consumers Chapter 12 Products and Culture A product is a bundle of satisfaction(or

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Test Review for 3 Product and Services for Consumers Chapter 12 Products and Culture- A product is a bundle of satisfaction (or utilities) including: form, taste, color, odor, and texture, function etc. It is the sum of physical and psychological satisfactions Diffusion of Innovation: innovation spreading and helpful in developing how quickly a successful a product can be diffused. Variables affecting it: degree of perceived newness, the perceived attributes of the innovation and the method used to communicate it Innovative product and adaptation Exhibit 12.1 Core Component: The physical product Product platform- where variations take place Design features Functional Features Packaging Component: Styling Brand Name Packaging Quality Labeling/Trademarks Price Support Services Component: Repair and maintenance Deliveries Installation Warranties Instructions Spare Parts Protectionism- I know this Entering the global markets- a successful brand is the most valuable resource a company has Cultural barriers and adaptation (skip Intellectual property) Definition of Global Brand- the worldwide use of a name term sign symbol to identify goods or services of one seller and to differentiate them from those of competitors
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Country of Origin Effect- any influence that the country of manufacture assembly or design has on a consumer’s positive or negative perception of a product Country, type of product Ethnocentrism has an effect on national pride and buy local Nation equity- country stereotyping (skip Private brands) Chapter 13 Products and Services for Business Volatility of Industrial Demand Huge cyclical swings in demand.--> airlines
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This note was uploaded on 06/22/2011 for the course MKTG 4700 taught by Professor Peev during the Summer '11 term at University of Georgia Athens.

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Final Review - Test Review for 3 Product and Services for Consumers Chapter 12 Products and Culture A product is a bundle of satisfaction(or

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