RSM100Y1 Chapter Notes - Chapter 12: Retail, Walmart Canada, Brand Equity
Document Summary
Product: bundle of physical, service, and symbolic characteristics designed to satisfy consumer wants. > convenience products: items that consumers purchase frequently. > shopping products: products purchased only after the buyer has compared competing products in competing stores. > specialty products: products that a purchaser is willing to make a special effort to obtain. > business products: goods and services used in operating an organization. > capital items: long-lived and relatively expensive products. > expense items: less costly products that are consumed within a year. > b2b products have five basic categories: installations, accessory equipment, component parts and materials, raw materials, and supplies. > installations: major capital items; expensive and negotiations can last a year. > accessory equipment: includes capital items, but are usually less expensive and have shorter life span. > component parts and materials: finished business goods that become part of a final product. > classifying services: either classified as b2c (childcare, eldercare centres) or b2b (security, custodial care)
