Class Notes (922,992)
CA (543,021)
UTSC (32,990)
MGT (624)
MGTA02H3 (149)
Lecture

Chapter 6 Study Guide

3 Pages
61 Views

Department
Management (MGT)
Course Code
MGTA02H3
Professor
Chris Bovaird

This preview shows page 1. Sign up to view the full 3 pages of the document.
Chapter 6
Features: the qualities both tangible and intangible that a company builds into its
products
Value package: product marketed as a bundle of value adding attributes,
including reasonable costs
One way to classify a product is according to expected buyers that fall into two
groups either buyers of:
Consumer products (these are divided into 3 categories)
oConvenience G/S: relatively inexpensive G/S that are bought and used
rapidly and regularly, causing consumers to spend little time looking
for them or comparing prices
oShopping G/S: moderately expensive G/S that are purchased
infrequently, causing consumers to spend time comparing their prices
oSpecialty G/S: very expensive G/S that are rarely purchased, causing
consumers to spend a great deal of time locating the exact item desired
Industrial products (further divided into 2 categories)
oExpense items: relatively inexpensive industrial goods that are
consumed rapidly and regularly
oCapital items: expensive, long lasting industrial goods that are used in
producing other G/S and have a long life
Product mix: the group of products the company has available for sale
Product line: a group of products intended for a similar group of buyers who will
use them in a similar fashion
Multiple product lines allow a company to grow rapidly and can help to offset the
consequences of slow sales in any one product line
Speed to market: strategy of introducing new products to respond quickly to
customer and/or market changes
www.notesolution.com

Loved by over 2.2 million students

Over 90% improved by at least one letter grade.

Leah — University of Toronto

OneClass has been such a huge help in my studies at UofT especially since I am a transfer student. OneClass is the study buddy I never had before and definitely gives me the extra push to get from a B to an A!

Leah — University of Toronto
Saarim — University of Michigan

Balancing social life With academics can be difficult, that is why I'm so glad that OneClass is out there where I can find the top notes for all of my classes. Now I can be the all-star student I want to be.

Saarim — University of Michigan
Jenna — University of Wisconsin

As a college student living on a college budget, I love how easy it is to earn gift cards just by submitting my notes.

Jenna — University of Wisconsin
Anne — University of California

OneClass has allowed me to catch up with my most difficult course! #lifesaver

Anne — University of California
Description
Chapter 6 Features: the qualities both tangible and intangible that a company builds into its products Value package: product marketed as a bundle of value adding attributes, including reasonable costs One way to classify a product is according to expected buyers that fall into two groups either buyers of: Consumer products (these are divided into 3 categories) o Convenience GS: relatively inexpensive GS that are bought and used rapidly and regularly, causing consumers to spend little time looking for them or comparing prices o Shopping GS: moderately expensive GS that are purchased infrequently, causing consumers to spend time comparing their prices o Specialty GS: very expensive GS that are rarely purchased, causing consumers to spend a grea
More Less
Unlock Document


Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


OR

Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit