psu marketing 221 exam 2 chapter 7

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A ________ is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

product

Product is a key element in a company's ________, which may, at one extreme, consist of pure tangible goods or, at the other extreme, pure services.

marketing offering

Product planners consider products and services on three levels. The most basic level is the ________, which addresses the question, "What is the buyer really buying?"

core customer value

Product planners must design the actual product and also find ways to ________ it in order to create the bundle of benefits that will create the most customer value.

augment

________ are products and services bought by final consumers for personal consumption. These include convenience products, shopping products, specialty products, and unsought products.

consumer products

________ are consumer products and services with unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchase effort.

specialty products

________ are those products purchased for further processing or for use in conducting a business.

industrial products

________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment.

capital items

________ consists of activities undertaken to create, maintain, or change attitudes or behavior toward particular people.

person marketing

________ is defined as the use of commercial marketing concepts and tools in programs designed to influence individuals' behavior to improve their well-being and that of society.

social marketing

Developing a product involves defining the benefits that it will offer. These benefits are communicated and delivered by ________ such as quality, features, and style and design.

product attributes

________ is an approach in which all the company's people are involved in constantly improving the products, services, and business processes.

total quality managment

Which of the following types of quality refers to freedom from defects and consistency in delivering a targeted level of performance?

conformance

in assessing which new features to add to a product, a company must weigh each feature's ________ to customers versus its ________ to the company.

value; cost

________ contributes to a product's usefulness as well as to its looks.

design

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