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BUSML 3250 Chapter 8 Exam Questions and Answers
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BUSML 3250 Chapter 8 Exam Questions and Answers
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BUSML 3250 Chapter 8 Exam Questionsand Answers
product - Answer-anything that can be offered to a market for attention, acquisition, use,
or consumption that might satisfy a want or need
service - Answer-an activity, benefit, or satisfaction offered for sale that is essentially
intangible and does not result in the ownership of anything
core customer value - Answer-product planner first (basic) level: what is the customer
really buying (people who buy and iPad are buying more than just a tablet, they are
buying entertainment, self-expression, connectivity, etc
actual product - Answer-product planner second level: product and service features, a
design, a brand name, etc (iPad is the actual product)
augmented product - Answer-product planner last level: additional consumer services
and benefits (Apple gives warranty, repair services, etc for iPad)
consumer product - Answer-a product bought by final consumers for personal
consumption
convenience product - Answer-a consumer product that customers usually buy
frequently, immediately, and with minimal comparison and buying effort (laundry
detergent, fast food, candy, magazines)
shopping product - Answer-a consumer product that the customer, in the process of
selecting and purchasing, usually compares on such attributes as suitability, quality,
price, and style (furniture, clothing, major appliances)
specialty product - Answer-a consumer product with unique characteristics or brand
identification for which a significant group of buyers is willing to make a special
purchase effort (specific brands of cars, high-prices photography equipment, designer
clothes)
unsought product - Answer-a consumer product that the consumer either does not know
about or knows about but does not normally consider buying (life insurance, blood
donations)
industrial product - Answer-a product bought by individuals and organizations for further
processing or for use in conducting a business
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