[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"doc-seo-493110-105":3,"detail-sidebar-cat-0-en-105":81,"doc-detail-493110-en":130},{"code":4,"msg":5,"data":6},0,"ok",{"site_id":7,"language":8,"slug":9,"title":10,"keywords":11,"description":12,"schema_data":13,"social_meta":74,"head_meta":76,"extra_data":78,"updated_unix":80},105,"en","chapter-1-key-vocabulary-describing-products","Chapter 1 - Key Vocabulary - Describing Products","","Chapter 1 focuses on essential vocabulary for describing products and explaining how goods and services are classified. It outlines two major groups—consumer goods and business products—and details consumer goods by durability and by end-user, including convenience, specialty, shopping, and unsought categories. 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Consumer goods are further categorized by durability and by end-user.","Answer",{"name":66,"@type":61,"acceptedAnswer":67},"What are the three main types of consumer goods based on durability?",{"text":68,"@type":64},"They are durable goods (lasting longer than 3 years), nondurable goods (lasting less than 3 years), and pure services (consumed instantly).",{"name":70,"@type":61,"acceptedAnswer":71},"What is a product line and how is product mix discussed?",{"text":72,"@type":64},"A product line is a group of products closely related by function, customer group, market, or price range. 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Key Vocabulary – Describing Products  \nYou need to be able to talk about the different products (goods and services) sold by a given company to its target market. They can be classified into two groups, such as: Consumer Goods and Business Products.  \nKey Terms from Chapter 1 :  \nConsumer goods, also known as final goods, are those that are consumed by the customer and are not used to make other goods.  \n3 main types of consumer goods (based on durability) . They are durable goods (that last longer than 3 years), nondurable goods (that last less than 3 years), and pure services (that are consumed instantly) .  \nOther classification (based on end-user): There are 4 main types of consumer goods. They are convenience goods, specialty goods, shopping goods, and unsought goods.  \nOther Key terms:  \nbrand n. a particular make of product-to brand v. -branded adj.  \nI've tried lots of other brands of shampoo, but this one's still my favourite.  \nconsumer n. the person who buys and uses a product or service-to consume v.  \nMost consumers don't care where the products they buy come from.  \ncost v. [cost, costed, costed] to estimate the price of making a product-costing n.  \nMany inputs like labour and materials must be costed before a product's retail price is set.  \ndistribution n. the delivering of products to end-users, incl. advertising, storing etc Has your company ever handled distribution of luxury goods for a top international brand?  \nend-user n. the person, customer etc who is the final and actual (or \"real\") user of a product If end-users aren't happy with the quality or price, they won't recommend it to their friends.  \nWhite goods and brown goods  \nWhite goods are large household appliances such as freezers, stoves (British: cookers), refrigerators, washing machines, and dishwashers.  \nBrown goods are relatively light electronic appliances such as radios, computers, game consoles, digital media players, and televisions. They are portable and semi-portable household electrical/electronic goods.  \nProduct line:  \nA product line is a group of products that are closely related to function, customer group, market or price range  \nAssignment – Product Lines and Mix.  \nTemplate for an in-depth analysis of a company’s Product Mix.  \nDisney is the perfect example of well-balanced Product mix. They started with Mickey, Donald Duck and their friends. Today, Disney owns:  \nDisney Classic Movies.  \nStart Wars franchises.  \nPixar company, with:  \nToy Story.  \nThe Incredibles.  \nCars, etc.  \nMarvel franchises:  \nAvengers. Iron-Man etc, etc…  \n20th century Fox.  \nMany other successful franchises.  \nThey have a different product for everyone. And each product generates different income sources:  \nMovie Theatre.  \nMerchandising that is sold all around the world.  \nTheme parks.  \nBroadcasting licenses.  \nSoundtracks.  \nToys  \netc    \nFor each Star-Wars official Merchandise sold, Disney is earning money, for example.  \nWith all these income sources, Disney would have it difficult not to succeed. Moreover, they constantly start new projects; some of them are very successful while others aren’t. For example: The “Han Solo” movie didn’t succeed as expected, so they have already said that there won’t be a second one.  \nExample 2: Louis Vuitton and Supreme Product mix example  \nLouis Vuitton is one of the most famous luxury brands in the world. Which problem faced Louis Vuitton? The young generations don’t follow the traditional luxury trends. Certain styles are regarded as“old”. Some young “rich” kids prefer extravagance rather that sobriety.  \nGucci launched a successful “millennial”-oriented Product line with extravagant designs:  \nOne of Gucci’s new successful designs.  \nAnd, Louis Vuitton was falling behind this new design trend…until they started working with “Supreme“.“Supreme” is a skateboarding clothes brand with a very good market penetration in the specific segment where Louis Vuitton was failing. The Millennialalternative-not","cbCaivNztGBXh0gG","https://ap.wps.com/l/cbCaivNztGBXh0gG","pdf",243263,"English","# Chapter 1 Key Vocabulary – Describing Products\n## Classification of Products\n## Key Terms and Definitions\n## White goods vs Brown goods\n## Product line and Product mix assignment","[{\"question\":\"How are products classified in the chapter?\",\"answer\":\"Products are classified into two groups: consumer goods (goods and services sold to the target market) and business products. Consumer goods are further categorized by durability and by end-user.\"},{\"question\":\"What are the three main types of consumer goods based on durability?\",\"answer\":\"They are durable goods (lasting longer than 3 years), nondurable goods (lasting less than 3 years), and pure services (consumed instantly).\"},{\"question\":\"What is a product line and how is product mix discussed?\",\"answer\":\"A product line is a group of products closely related by function, customer group, market, or price range. The chapter includes an assignment template for an in-depth analysis of a company’s product mix, using examples such as Disney and Louis Vuitton/Supreme.\"}]","Chapter 1 - Key Vocabulary - Describing Products | PDF",1790875724]