MGM 301 Lecture Notes - Lecture 8: List Of Captive Orcas, Aadhaar, Test Market
22 Jan 2016
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Document Summary
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. Tangible attributes- physical characteristics such as color or sweetness. Product line- group of products that are closely related because they satisfy a class of needs, are used together, and sold to the same customer group. Product item- a specific product as noted by a unique brand, size, or price. Stock keep unit(sku)- a unique identification number that defines an item for ordering or inventory purposes. Product mix- the number of product lines offered by a company. Type of user- first major type of product classification: 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, conveniently, and with a minimum of shopping effort.
