MCS 1000 Chapter Notes - Chapter 10: Six Sigma, Groupthink, Business Analysis

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Product mix: the number of product lines offered by a company. Classifying products: two ways to classify products are type of user and degree of product tangibility. Consumer goods: products purchased by the ultimate customer. Business goods: are products that assists directly or indirectly in providing products for resale. Problem some items can be classi ed as both a consumer and business good: eg. apple computer can be for both personal and business use. Nondurable good item consumed in one or few used (food, fuel) Durable good one that lasts over and extended number of uses (appliances, cars) Services activities, deeds, or other basic intangibles offered for sale to customers in exchange for money or something else of value: this method also provides direction for marketing actions. Consumer goods: differ in terms of effort that consumer expends on decision, attributes to the purchase and frequency of purchase.

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