ARBUS302 Lecture 11: Lecture 11 +12.
10 Apr 2015
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Document Summary
Classifying consumer and business goods: classification of consumer goods, convenience goods: purchased frequently, minimal shopping effort, shopping goods: consumers compare with other goods on several attributes, specialty goods: consumer makes a special effort to obtain, unsought goods: products/services that the consumer either does not know about or knows about but does not initially want (at one point smart phones were unsought, convenience good, price is important, place: want it in many locations, promotion: people want to know price and place. What is a new product: newness compared with existing products, newness in legal terms, newness from the company"s perspective, newness from the consumer"s perspective, most important, specifically newness with respect to the degree of learning that the consumer has to go through. 7 categories of new service: major service innovations, major process innovations, service line extensions (continuous innovations, process line extensions (continuous innovations, supplementary service innovations, basic service improvements, style changes.
