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Unformatted text preview: Chapter 10 • Product o A good, service, or idea consisting of tangible and intangible features that satisfies consumer’s needs and is received in exchange for money or something else of value • Services o Intangible activities or benefits that an organization provides to satisfy consumers’ needs in exchange for money or something else of value o Equipment and People based o Four I’s of Services The four unique elements that distinguish services from goods • Intangibility • Inconsistency • Inseparability • Inventory o Idle Production Capacity When the service provider is available but there is no demand for the service • Consumer Products o Products purchased by the ultimate consumer Convenience product, shopping product, specialty product, unsought product • Business Products o Products organizations buy that assist directly or indirectly in providing other products for resale Components and Support Products • Product Item o A specific product that has a unique brand, size, or price •...
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This note was uploaded on 10/19/2011 for the course MARKETING 291 taught by Professor Hoffer during the Fall '11 term at Miami University.
- Fall '11