IBM 301 Lecture Notes - Lecture 10: Swoosh
Document Summary
Everything, both favorable and unfavorable, that a person receives in an exchange. Business product: a product used to manufacture other goods or services, to facilitate an organization"s operations, or to resell to other customers. Consumer product: a product bought to satisfy an individual"s personal wants. Convenience product: a relatively inexpensive item that merits little shopping effort. Shopping product: a product that requires comparison shopping, because it is usually more expensive and found in fewer stores. Specialty product: a particular item for which consumers search extensively and are reluctant to accept substitutes. Unsought product: a product unknown to the potential buyer or a known product that the buyer does not actively seek. Product item: a specific version of a product that can be designated as a distinct offering among an organization"s products. Product line: a group of closely-related product items. Product mix: all products that an organization sells.