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Notes 3-24-08 - Notes Chapter 9 Product Concepts What is a...

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Notes 3-24-08 Chapter 9 Product Concepts What is a Product? Is primarily a physical reality, but many have an important essence. Product : everything, both favorable and unfavorable, that a person receives in exchange. Can be a tangible good, a service, or an idea . Product is the starting point of marketing mix- you have to have something to sell before you can market it. Types of Consumer Products There are business products and consumer products. A business product is sold from one business to another. A consumer product us a product brought to satisfy an individual’s personal needs or wants. Types of consumer products include: Convenience Products : a relatively inexpensive item that merits little shopping effort, ex toothpaste, cigarettes, bottled water, candy, coffee, Red Bull Shopping Product : a product that requires comparison shopping, because it is usually more expensive and found in fewer stores, ex. A computer, shoes, Specialty Product:
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