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Ch. 13, 14, 15
| Question | Answer |
|---|---|
| What is a product? | Good, service, or idea. |
| What is a consumer product? | A product purchased to satisfy personal and family needs. |
| What is a convenience product? | An inexpensive, frequently purchased item. (convenience stores!) |
| What is a shopping product? | An item which buyers are willing to spend considerable effort on planning and making the purchase. |
| What is a specialty product? | An item that has one or more unique quality, which many people are willing to spend time and effort on buying it. |
| What is raw material? | Basic material that becomes part of physical product. Comes from mines, forests, oceans, or recycled wastes. |
| What is major equipment? | Large tools/machines used for production. |
| What is accessory equipment? | Standardized equipment used in production/office activities. |
| What is a component part? | An item that becomes a part of a physical product. |
| What is process material? | Material used directly in production of another product. |
| What is supply? | Item that facilitates production and operations, but not part of finished product. |
| What is business service? | Intangible product that an organization uses in operations. |
| What are the stages of the product life cycle? | Introduction, growth, maturity, decline stage. |
Created by:
akoehlinger
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