ch 10 marketing
Terms
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- product
- good, service, or idea consisting of tangible and intangible freatures that satisfies consumers and is recieved in exchange for money or some other unit of value
- product line
- group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same cusomer group, are distributed through the same outlets, or fall within a given price range
- product mix
- all the product lines offered by a company
- consumer goods
- products purchased by the ultimate consumer
- business goods
- products that assist directly or indirectly in providing prodcuts for resale
- services
- intangible activites or benefits that an organization provides to sonsumer in exchange for money or something else of vale
- idle prodution capacity
- when the supply of the service exceeds demand for it
- production goods
- items used in the manafcturing process that becomes part of the final good
- support goods
- items used to assist in producing other goods and services
- new product process
- sequence of activites a firm uses to identify business opportunites and convert them into salable goods orservices