MCS 1000 Chapter Notes - Chapter 10: Weight Watchers, Strategic Alliance, Business Analysis

• School: University of Guelph
• Department: Marketing and Consumer Studies
• Course: MCS 1000
• Professor: Douglas Adlam

Document Summary

Lo1 product: a good, service or ideas consisting of a bundle of tangible and intangible attributes that satisfies consumers" needs and is received in exchange for money or something else of value. Services: intangible activities or benefits that an organization provides to satisfy consumers" needs in exchange for money or something else of value. Idea: a thought that leads to a product or action e. g. new invention. Two broad categories of products: relate to the type of user. Consumer products: products purchased by the ultimate consumer. Business products: products organizations buy that assist in providing other products for re-sale some products can be considered both consumer and business items. e. g. imac computer. use different marketing actions. Consumer products - depend on: (1) the effort the consumer spends on the decision. (2) the attributes used in making the purchase decision. (3) frequency of purchase. Convenience products: items that the consumer purchases frequently with minimum shopping effort.