Purchase Solution

Defining Products: What Are They?

Not what you're looking for?

Ask Custom Question

Please provide help in answering these questions:

What is a product? Identify and explain what products are being offered by a shop that specializes in bicycles; by a travel agent; by a supermarket; and, by a new car dealer.

Purchase this Solution
Solution Summary

The solution defines products.

Solution Preview

PRODUCT DEFINITIONS

A product is defined by Peter and Donnely (2004) as the sum of physical, psychological, and sociological satisfaction that a buyer derives from purchase, ownership, and consumption. It is also treated as a solution to the needs of target buyers. To these authors, how a company defines its products is important to organizational performance, particularly survival, profitability, and growth.
Using the said definition, the product offered by the company should provide an idea on the complete offering (the physical, attached services, and benefits) that may have implications on the satisfaction and convenience that a consumer could derive ...

Solution provided by:
Elisa Valdez, PhD
Education
  • Bachelor of Science in Business Administration, University of the Philippines
  • Master in Business Administration, Saint Mary's University
  • Doctor of Philosophy in Education, University of the Philippines
  • Doctor in Business Adminstration (IP), Polytechnic University of the Philippines
Recent Feedback
  • "Excellent information thanks for the input"
  • "Thank you"
  • "Very thorough and informative. Thank you."
  • "Good response. Very detailed"
  • "This solution is excellent. Thank you"
Purchase this Solution
Free BrainMass Quizzes
Lean your Process

This quiz will help you understand the basic concepts of Lean.

Writing Business Plans

This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.

Organizational Behavior (OB)

The organizational behavior (OB) quiz will help you better understand organizational behavior through the lens of managers including workforce diversity.

Business Ethics Awareness Strategy

This quiz is designed to assess your current ability for determining the characteristics of ethical behavior. It is essential that leaders, managers, and employees are able to distinguish between positive and negative ethical behavior. The quicker you assess a person's ethical tendency, the awareness empowers you to develop a strategy on how to interact with them.

MS Word 2010-Tricky Features

These questions are based on features of the previous word versions that were easy to figure out, but now seem more hidden to me.

View More Free Quizzes
Related BrainMass Solutions

  • Defining A Product or Service

    548792 Defining A Product or Service "Whether a company grows, survives, and makes a profit could depend upon how their products or services are defined." What does this statement mean to a company or to consumer perception?

  • Business concepts and strategic direction

    253628 Using a bookstore/coffee house business (sort of like barnes and nobles and Starbucks combined), assist in defining (850-1100 words)a bookstore/coffee house business concept, its vision, mission, and values and how they are important in determining

  • Need Help

    This is due in part to the fact that many Internet users are part of a younger audience demographic. Gender Simply, men and women respond to products and their promotion in different ways. Often they have different end goals.

  • Socio-economic position and the impact on consumer purchasin

    Next, you do research to learn more about your market, such as what your target customers' buying habits are, what your competition is doing, or whether there are important industry trends.

  • Organizational structure, roles, and resonsibilities

    ZJZ Cosmetics creates products for other firms to brand and market; they do not sell the products they create to the final customer, only business-to-business.

  • Porter's five forces, sound e-business strategy, SMART

    Company could lose direction Q-3 What is the importance of online revenue contribution in defining an e-business strategy? What are SMART objectives?

  • Upward Mobility in Society

    The media tends to focus their attention on the wealthy and they seek to direct their advertisements to those who they assume can afford their products.

  • Strategic development

    Provide an overview of the process of defining market opportunities for typical healthcare organizations. Answer these questions What service(s) will the organization provide?

  • Business definition

    255961 Defining your business What are the basic pieces of information that you would need to include in defining your business to another person who is not in your company, organization, or group?

View More Related Solutions