MKTG 409 Chapter 10 MindTap Study Guide – Product Concepts, Branding & New Product
Development Review
good - ANS ✔✔tangible physical entity
service - ANS ✔✔an intangible result of the application of human and mechanical efforts to
people or objects
idea - ANS ✔✔a concept, philosophy, image, or issue
consumer products - ANS ✔✔products purchased to satisfy personal and family needs
business products - ANS ✔✔Products bought to use in an organization's operations, to resell, or
to make other products
convenience products - ANS ✔✔Relatively inexpensive, frequently purchased items for which
buyers exert minimal purchasing effort
shopping products - ANS ✔✔items for which buyers are willing to expend considerable effort in
planning and making purchases
specialty products - ANS ✔✔items with unique characteristics that buyers are willing to expend
considerable effort to obtain
unsought products - ANS ✔✔Products purchased to solve a sudden problem, products of which
customers are unaware, and products that people do not necessarily think of buying
installations - ANS ✔✔facilities and nonportable major equipment
Development Review
good - ANS ✔✔tangible physical entity
service - ANS ✔✔an intangible result of the application of human and mechanical efforts to
people or objects
idea - ANS ✔✔a concept, philosophy, image, or issue
consumer products - ANS ✔✔products purchased to satisfy personal and family needs
business products - ANS ✔✔Products bought to use in an organization's operations, to resell, or
to make other products
convenience products - ANS ✔✔Relatively inexpensive, frequently purchased items for which
buyers exert minimal purchasing effort
shopping products - ANS ✔✔items for which buyers are willing to expend considerable effort in
planning and making purchases
specialty products - ANS ✔✔items with unique characteristics that buyers are willing to expend
considerable effort to obtain
unsought products - ANS ✔✔Products purchased to solve a sudden problem, products of which
customers are unaware, and products that people do not necessarily think of buying
installations - ANS ✔✔facilities and nonportable major equipment
