MGM 301 Lecture Notes - Lecture 4: Stock Keeping Unit, J Brand, Mayonnaise
14 Dec 2020
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Core bene t/product- core thing that the customer is seeking. Expected product- what the consumer expects of the product- example it will work e ciently and quickly, have a warranty, etc. Augmented product- something that your product does better than a competitors (cid:12254) Product de nition- a product is a good, service, or idea consisting of a bundle of tangible and intangible bene ts. People don"t buy the features that are built into the product- but they buy the products that work and have the features (cid:12254) (cid:12254) Product item- a speci c product, identi ed by its ordering code, the stock keeping unit (sku) Product line- a group of closely related products. Mix- set of product lines sold by a company. Depth- average number of product items in a line. Consistency- similarity across product lines product life cycle- the life of a product over 4 stages- introductory, growth, maturity, decline.
