Distinguish between consumer products and business products.
What will be an ideal response?
The most widely accepted approach to classifying consumer products is based on characteristics of consumer buying behavior. It divides products into four categories: convenience, shopping, specialty, and unsought products. However, not all buyers behave in the same way when purchasing a specific type of product. Thus, a single product can fit into several categories. To minimize this problem, marketers think in terms of how buyers generally behave when purchasing a specific item.Business products are usually purchased on the basis of an organization's goals and objectives. Generally, the functional aspects of the product are more important than the psychological rewards sometimes associated with consumer products. Business products can be classified into seven categories according to their characteristics and intended uses: installations; accessory equipment; raw materials; component parts; process materials; maintenance, repair, and operating (MRO) supplies; and business services.
You might also like to view...
As Dean calculates his current assets for his used video game store, he is sure to include which of the following?
A. Fixed assets B. Accrued liabilities C. Notes receivable D. Retained earnings E. Merchandise inventory
The market rate of interest ________.
A) is also known as the stated rate of interest B) affects the amount of cash interest the borrower pays each year C) is printed on the bond and does not change from year to year D) works with the stated rate of interest to set the price of a bond
Chapter 9 of your textbook identifies three elements of competencies in a community of practice. These are a sense of joint enterprise, relationships of mutuality, and a shared repertoire. A person learning from, reinforcing, and adding to the culture of their community of practice is an example of _____________.
a. Sense of joint enterprise b. Relationships of mutuality c. Shared repertoire d. None of the above
Which of the following is a true statement regarding « toolkits » and OD?
a. Seeking tools without knowledge about the OD process is likely to prevent OD success. b. OD toolkits can provide quick fixes to organizational problems. c. Practitioners can easily provide clients with what they want and need. d. Problems requiring OD often involve instrumented training or standard models.