Chapter

11.6. What Is a Product?*

From IntroductionToBusiness OP 8D04gAa

Concepts

1. What is a product and how does it create customer value?

   "The goal of marketing research is to create products that are desired by the target market(s) chosen as strategic markets in line with the organization’s goals. In marketing, a product (a good, servi

2. How do products deliver packages of tangible and intangible benefits?

   "Consumers are really buying packages of benefits that deliver value, which always includes some tangible aspects and some intangible aspects. The person who buys a plane ride on United Airlines is lo

3. How are consumer products classified by durability and buying effort?

   "To help them define target markets, marketers have devised product categories. Products that are bought by the end user are called consumer products. They include electric razors, sandwiches, cars, s

4. What distinguishes unsought, convenience, shopping, and specialty products?

   "Unsought products are products unplanned by the potential buyer or known products that the buyer does not actively seek. Convenience products are relatively inexpensive items that require little shop

5. How are business products classified?

   "Products bought by businesses or institutions for use in making other products are called business products. These products can be commercial, industrial, or services products. A commercial product w