PBMF 11.1 Product

11. 1 Products

Goods & services are often referred to as products.
Businesses sell products to satisfy customer needs.

Services are different from goods in four important ways:

• Intangible

• Insepearble

• Variable

• Perishable

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​Services

Match

Match each with the correct definition.

• something that cannot be touched

• a service that cannot be separated from the person who performs it

• each service is almost always unique

• services cannot be stored for later use

intangible

inseparable

variable

perishable

• intangible

• inseparable

• variable

• perishable

Inseparable: They are inseparable from the provider. Customers often think of the service and the provider as the same.

Perishable: They cannot be saved for later use.

Intangible: They cannot be tried out before purchased or be returned

Variable: It only exists once and is rarely repeated exactly the same way

Services are:

Open Ended

Businesses must pay close attention to how services are provided and to the unique needs of each customer.

Why do you think this is important?

​Product Elements

All products have certain elements that may be changed to meet customer needs.

• Features

• Usage

• Protection

Options are features that can be added to a product by customer request.
They allow customers to customize products to their specific needs.

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​Features

Facts about a good or service

Open Ended

What are some features of a cell phone?

Match

Quality is an indicator of a product's excellence. Match the quality level with the correct definition.

• highest level of quality available; usually the highest price

• mid-range quality; usually combine good quality with moderate prices

• adequate level of quality; functional, but may not be long-lasting

Premium Quality

Moderate Quality

Value Quality

• Premium Quality

• Moderate Quality

• Value Quality

Installation: The act or process of putting a good in a certain place and getting it ready for use. A service offered with many large or complex products.

Instructions: Steps that must be carried out in a specific order to successfully complete a task.

Technical Support: People and resources available to help customers with usage problems.

Usage

• Safety Inspections

• Packaging

• Warranties

• Maintenance

• Repair services

Protection

• Most manufacturers work diligently to verify product safety through quality control check during the manufacturing process.

• Safety features may influence consumer buying decisions

Safety Inspections

• Government agencies set and enforce safety standards for some products.

Packaging protects products until customers are ready to use them.

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​Packaging

Word Cloud

Give an example of information that might be found on a product's package.

A promise that a product has a certain quality or will perform in a specific way.
Usually used in promotions, such as "Satisfaction guaranteed or your money back."

Guarantee

A written document that states the quality of a product with a promise to correct certain problems that might occur.
(usually replacement or repair)

​Warranty

Warranties & Guarantees

Complex machinery, vehicles, and other equipment often require regular maintenance to remain in safe, working order.

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​Maintenance & Repair Services

Dropdown

The availability and cost of maintenance & repair services ​

Select answer

affect consumer buying decisions.