Chapter 9: Product Concepts

Chapter 9: Product Concepts

This chapter explains the different products:

·         Business product- used to manufacture other goods or services or resell to other customers.

·         Consumer product- bought to satisfy and individual’s personal wants.

·         Convenience product- inexpensive item that merits little shopping effort.

·         Shopping product- requires comparison shopping because it is usually more expensive than a convenience product and is found in fewer stores.

·         Specialty product-particular item that consumers search extensively for and are very reluctant to accept substitutes.

·         Unsought project- unknown to the potential buyer or a known product that the buyer does not actively seek.

Packaging, labels, and brands are all different ways that influence consumers to buy the product. The eye is drawn to familiar brands and to things that are appealing.