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CHAPTER 3 Product & Service, Consumer Goods, Service, Product Line,…
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Consumer Goods
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Shopping Goods
a fair degree of pre-planning, information search and price comparison
Specialty Goods
often characterised by extensive search and an extreme reluctance to accept substitutes for the chosen product.
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Product Line
group of products that a company creates under a single brand. The products are similar and focus on the same market sector.
Product Mix
product assortment, refers to the total number of product lines a company offers to its customers. For example, your company may sell multiple lines of products.
Individual Brands
Individual, unique brand name for each product
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Generic Brands
The products are typically packaged in white with black lettering that name only the product itself.
Licensing
An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time.
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Ingredient branding
A form of co-branding in which branded materials are used as ingredients or components parts of other branded products.
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• Services are a special form of product which consists of activities, benefits or satisfactions offered for sale that are intangible and do not result in the ownership of anything.
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