BMGT 350 Chapter Notes -Omega Sa, Brand Equity, Store Brand
5 Jun 2014
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Business product: used to manufacture other goods or services, to facilitate an organization"s operations, or to resell to other customers. Consumer product: bought to satisfy an individual"s personal wants. Convenience products: relatively inexpensive item that merits little shopping effort. Candy, soft drinks, aspirin need wide distribution so available everywhere. Shopping products: requires comparison shopping because it"s usually more expensive than a convenience product and is found in fewer stores. Homogeneous all products basically the same (fridge) / heterogeneous products are essentially different (clothes, colleges) Specialty products: item for which customers search extensively and are very reluctant to accept substitutes. Not found many places (rolls royce, omega watches, ruth"s chris steak house) Unsought products: product unknown to the potential buyer or a known product that the buyer does not actively seek extensive advertising needed until convinced to buy (insurance, burial plots)
