Comm 101 chapter 13

<p>good, service</p> Signup and view all the answers

<p>goods and services</p> Signup and view all the answers

<p>Different classes of products directed at specific target markets</p> Signup and view all the answers

<p>Consumer product and business product</p> Signup and view all the answers

<p>A product purchased to satisfy personal and family needs</p> Signup and view all the answers

<p>A product bought for resale, for making other products, or for use in a business's operations</p> Signup and view all the answers

<p>consumer + business product</p> Signup and view all the answers

<p>Convenience, shopping, specialty, or unsought products</p> Signup and view all the answers

<p>relatively inexpensive, frequently purchased items that require little shopping effort</p> Signup and view all the answers

<p>An item for which buyers are willing to expend considerable effort on planning and making the purchase</p> Signup and view all the answers

<p>An item that possesses 1+ unique characteristics that a group of buyers are willing to spend considerable purchasing effort on.</p> Signup and view all the answers

<p>A product that isn't actively sought out until a significant event occurs</p> Signup and view all the answers

<p>Based on their characteristics and intended uses</p> Signup and view all the answers

<p>Any product improvement that customers value over existing choices; it includes new products and adaptations to existing products.</p> Signup and view all the answers

<p>Improves quality of life, products with improved function and quality, lower prices, and new experiences</p> Signup and view all the answers

<p>Idea generation, product analysis, product development &amp; testing, and commercialization</p> Signup and view all the answers

<p>A series of stages in which a product's sales revenue and profits increase, reach a peak and then decline</p> Signup and view all the answers

<p>Introduction, Growth, Maturity, and Decline Stage</p> Signup and view all the answers

<p>Little competition, high failure rate, low sales, small or negative profits, heavy promotion, high costs for production and marketing, and limited distribution</p> Signup and view all the answers

<p>Sales and profit increase, increased competition, possible lower prices to deal with competitors, advertising and increased distribution</p> Signup and view all the answers

<p>Sales peak, profits begin to decline as the market becomes saturated, addition of new features or styles, further price cuts and global introduction of products</p> Signup and view all the answers

<p>A decline in sales and profits, elimination of most advertising and sales promotion, possible elimination of the product due to changes in consumer tastes and new product introductions.</p> Signup and view all the answers

<p>The collection of all the company's products</p> Signup and view all the answers

<p>A group of similar products that are related to each other in the way they work or the audience they target</p> Signup and view all the answers

<p>adding</p> Signup and view all the answers

<p>Changes in customer preferences</p> Signup and view all the answers

<p>Commitment to a brand</p> Signup and view all the answers

<p>How well consumers recognize a brand's name, logo, product, etc.</p> Signup and view all the answers

<p>All activities involved in developing and providing a container with graphics for a product; it can influence purchase decisions.</p> Signup and view all the answers

<p>Protect the product, attract buyer attention, provide product information, improve design or function, and better serve customer needs</p> Signup and view all the answers

<p>the cost of the product</p> Signup and view all the answers

<p>Economic conditions, the industry, and the stage of a product's life cycle</p> Signup and view all the answers

<p>Company cost for product, max price customers are willing to pay, and what competitors charge</p> Signup and view all the answers

<p>A course of action designed to achieve pricing objectives</p> Signup and view all the answers

<p>break-even point</p> Signup and view all the answers

<p>Fixed + Variable Costs</p> Signup and view all the answers

<p>Fixed</p> Signup and view all the answers