BUAD 332 Study Guide - Tax Preparation In The United States, Product Design, Blood Donation

• School: UTK
• Department: Business Administration
• Course: BUAD 332
• Professor: All

Document Summary

Anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. (doesn"t have to be a tangible product) Include physical objects, services, events, persons, places, organizations, and ideas. Any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Include hair styling, tax preparation, air travel, and banking. Pure tangible- commodity, hybrid- restaurant, pure service- education. Core customer value- what the consumer is really buying (some benefit) Actual product- brand name, features, design, packaging, and quality level (physical) Augmented product- additional services and benefits such as delivery and credit, instructions, installation, warranty, and service. *distinction between consumer and industrial products is based on the purpose for which an item is bought* Those purchased for further processing or for use in conducting business. Products and services bought by final consumers for personal consumption.