Podcast
Questions and Answers
What does the term 'Need Family' refer to?
What does the term 'Need Family' refer to?
What is a product family?
What is a product family?
What defines a product class?
What defines a product class?
What is a product line?
What is a product line?
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What does 'product type' refer to?
What does 'product type' refer to?
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What is an 'Item'?
What is an 'Item'?
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Study Notes
Product Hierarchy Overview
- Need Family: Represents the core need that forms the foundation for a product family.
Product Family
- Comprises all product classes that can effectively meet a core need.
Product Class
- Refers to a collection of products within a product family recognized for their functional coherence and often categorized as a product category.
Product Line
- Consists of related products within a product class, designed for similar functions, targeted towards the same customer demographics, marketed through identical channels, or sharing similar price ranges.
- Can encompass multiple brands, a singular family brand, or an individual brand that has undergone extension.
Product Type
- Identifies a group of items within a product line that share specific forms of the product.
Item
- Also known as a stock-keeping unit (SKU), represents a unique unit within a brand or product line, differentiated by attributes such as size, price, and appearance.
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Description
Explore the fundamental concepts of product hierarchy through flashcards. This quiz covers essential terms such as need family, product family, and product class, providing a solid understanding of how products are categorized. Perfect for marketing or business students looking to enhance their knowledge.
