Products, services and branding
Products, services and branding

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Products, services and branding

Glossary

actual product
A composite of the features and capabilities offered in a product, quality and durability, design and product styling, packaging and brand name
augmented product
Support aspects of a product, including customer service, warranty, delivery and credit, personnel, installation and after-sales support
business product
Item bought for use in a company’s operations or to make other products
consumer product
Item purchased to satisfy personal or family needs
convenience product
Inexpensive, frequently purchased and rapidly consumed item that demands only minimal purchasing effort
product life cycle
The four major stages through which products move: introduction, growth, maturity and decline
product line
A group of closely related product items that are considered a unit because of marketing, technical or end-use considerations
product mix
The composite group of products that a company makes available to customers
Products
Goods, services or ideas
Services
Intangible products involving a deed, a performance or an effort that cannot physically be possessed
shopping product
Item chosen more carefully than a convenience product; consumers will expend effort in planning and purchasing these items
speciality product
Item that possesses one or more unique characteristic; consumers of speciality products plan their purchases and will expend considerable effort to obtain them
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