| A | B |
|---|
| Services | Intangible tasks that satisfy the needs of consumers and business users |
| Goods | Tangible products that customers can see, hear, sell, taste, or touch |
| Homeshoring | Hiring workers to do jobs from their home |
| Consumer (B2C) product | Product destined for use by ultimate consumers |
| Business-to-business (B2B) product | Product that contributes directly or indirectly to the output of other products for resale; also called industrial or organizational product |
| Convenience products | Goods and services that consumers want to purchase frequently, immediately, and with minimal effort. |
| Shopping products | products that consumers purchase after comparing competing offerings |
| Specialty products | Products that offer unique characteristics that cause buyers to prize those particular brands |
| Business services | Intangible products that firms buy to facilitate their production and operating processes |
| Total quality management (TQM) | Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world-class performance. |
| Product line | Series of related products offered by one company. |
| Product life cycle | Progression of a product through introduction, growth, maturity, and decline stages. |
