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Related Flashcards
Related Topics
Cards In This Set
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Value
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Good quality at a fair price. When consumers calculate the calculate the value of a product, they look at eh benefits and then subtract the cost to see if the benefits exceed the costs
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Total product offer
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Everything that consumers evaluate when deciding whether to buy something also called a value package
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Product line
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A group of products that are physically similar or intended for a similar market
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Product mix
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The combination of product lines offered by a manufacturer
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Product differentiation
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The creation of real or perceived product differences
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Convenience goods and services
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Products that the consumer wants to purchase frequently and with minimum of effort
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Shopping goods and services
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Those products that the consumer buys only after company value, quality, price, and style from a variety of sellers
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Specialty goods and services
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Consumer products with unique characteristics and brand identity. Because these products are perceived as having no reasonable substitute, the consumer puts forth a special effort to purchase them.
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Unsought goods and services
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Products that consumers are unaware of, haven't necessarily thought of buying, or find that they need to solve an unexpected problem
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Industrial goods
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Products used in the production of other products. Sometimes called business goods or B2B goods.
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Brand
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A name, symbol, or design (or combination thereof) that indentifies the goods or services of one seller or group of sellers and distinguishes them from the goods and services of competitors
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Trademark
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A brand that has been given exclusive legal protection for both the brand name and the pictorial design
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Manufacturers' brand names
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The brand names of manufacturers that distribute products nationally
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Dealer (private-label) brands
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Products that don't carry the manufacturer's name but carry a distributor or retailer's name instead
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Generic goods
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Nonbranded products that usually sell at a sizable discount compared to national or private-label brands
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