MKT 337 Chapter Notes - Chapter 7: Apple Watch, Bulldozer, Personal Selling
Document Summary
Business products generally fall into one of the following seven categories, depending on their use: major equipment, accessory equipment, raw materials, component parts, processed materials, supplies, business services. Accessory equipment: accessory equipment is generally less expensive and shorter-lived than major equipment, ex. include portable drills, power tools, microcomputers, and computer software. Accessory equipment is often charged as an expense in the year it is bought rather than depreciated over its useful life. In contrast to major equipment, accessories are more often standardized and are usually bought by more customers. For example, all types of businesses buy microcomputers. Local industrial distributors (wholesalers) play an important role in the marketing of accessory equipment because business buyers often purchase accessories from them. Regardless of where accessories are bought, advertising is a more vital promotional tool for accessory equipment than for major equipment. Raw materials are unprocessed extractive or agricultural products for example, mineral ore, timber, wheat, corn, fruits, vegetables, and fish.
