Product
all that a customer receives in an exchange
Core product,
actual product,
augmented product
3 layers of the product
durable goods
consumer products that provide benefits over a period of months, years, or even decades
Nondurable goods
products consumed over the short term
Convenience products
typically nondurable goods or services bought with minimal effort that may be frequently purchased
staple products
basic or necessary items that people simply cannot do without (Ex: gasoline, milk, bread)
Impulse products
Products bought on the spur of the moment (Ex: Candy, pop)
Emergency products
items that have to be purchased immediately because of dire need (Ex: diapers, tampons)
Shopping products
goods and services for which consumers will spend time and effort to gather information on price, product attributes, and product quality
shopbots
intelligent agents that can help both businesses and consumers make comparisons among shopping products
Specialty Products
products with unique characteristics that are important to buyers at almost any price - brand loyalty (Michael Kors, Rolex, Calvin Klein)
Unsought Products
goods and services for which a consumer has little awareness or interest until a need arises (Ex: burial plots, life insurance for young people)
equipment
____________ is used in daily operations
Maintenance, repair, and operating (MRO)
goods that are consumed relatively quickly
Raw materials
products of fishing, lumber, agricultural, and mining industries used to manufacture finished goods
heavy equipment
Also called capital equipment or installations
light or accessory equipment
items that are more portable, cost less, and do not last as long as heavy equipment
Maintenance items
items such as light bulbs, mops, etc.
Repair products
items that include small tools, nuts, bolts, etc.
Operating Supplies
items that include paper, toner, and the oil that keeps machines running smoothly
Raw materials examples
items such as milk, soybeans, trees, and ore
Processed materials
materials produced by firms when they transform raw materials from their original state
specialized services
services that are essential to the organization but are not a part of the actual production of a product
component parts
manufactured goods or sub assemblies of finished items that firms need to complete their own goods
innovation
anything customers perceive as new or different