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CHAPTER 13 - CHAPTER 13 Product classification Product...

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CHAPTER 13 Product classification Product strategy o Convenience products- items the consumer seeks to purchase frequently, immediately and with little ffort o Shopping products- typically purchased only after the buyer has compared products. o Another thing. CLASSIFYING BUSINESS GOODS o Installations- major capital items such as new factories o Accessory equipment- includes less expensive and shorter-lived capital items o Component parts and materials o Raw materials o Supplies STAGES OF THE PRDUCT LIFE CYCLE o Introduction stage o Growth stage o Maturity stage o Decline stage IMPLICATIONS OF THE PRODUCT LIFE CYCLE o Marketer's objective is to extend the life cycle as long as product is profitable.
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