MKT 337 Lecture Notes - Lecture 10: Open Innovation, Strategic Alliance, Swot Analysis
Document Summary
A product is a good, service or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers" needs and is received in exchange. Service: intangible activities or benefits that an organization provides to satisfy for money or something else of value. consumer needs in exchange for money or something else of value. Classified products: consumer products: products purchased by the ultimate consumer. Shopping products: consumer compares several alternatives n criteria such as price, quality or style. Specialty products: items that consumer makes a special effort to search out and buy. Unsought products: items that consumer does not know about or knows about but does not initially want: business product: products that organizations buy that assist in providing other products for resale. Derived demand: sales of business products frequently result from the sale of consumer products. Components: items that become part of the final product. Support products: items used to assist in producing other goods and services.
