MCS 1000 Lecture Notes - Lecture 10: Business Analysis, Six Sigma

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: bonafacio

Document Summary

Mcs 1000 chapter 10 developing new products and services. Product- a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value. Product mix- the number of product lines offered by a company. Consumer goods- products purchased by the ultimate consumer. Business goods- products that assist directly or indirectly in providing products for resale. Convenience goods- items that the consumer purchases frequently and with a minimum of shopping effort. Shopping goods- items for which the consumer compares several alternatives on such criteria as price, quality, or style. Specialty goods- items that a consumer makes a special effort to search out and buy. Unsought goods- items that the consumer either does not know about or knows about but does not initially want. Production goods- items used in the manufacturing process that become part of the final product.