| A | B |
|---|
| actual product | the physical product or the service a consumer gets when buying a product |
| augmented product | extra value that comes as part of an actual product |
| brand | the name or symbol that identifies the company that makes a particular product |
| Convenience Product | product a consumer does not spend a lot of time or effort choosing |
| Core Product | the main benefit the consumer gets from buying a product |
| Emergency Product | a convenience product a consumer buys for unexpected needs |
| Homogeneous | refers to shopping products with similar level of quality and/or features |
| Impulse Product | a convenience product a consumer buys without much thought |
| Label | text or graphic information about a product, found on product packaging |
| Packaging | material that surrounds a physical product |
| Product | anything offered to consumers in a market to satisfy a want or need |
| Prototype | a model of a final product |
| Shopping Product | a product a consumer will spend a lot of time researching |
| Staple | a convenience product a consumer regularly buys and uses |
| Unsought Product | a product a consumer either doesn’t know about or doesn’t think about |
| inseparable | the use of a service the moment it is produced |
| intangible | a product that is not able to be touched or held |
| perishable | the fact that a service cannot be held for the future or used again |
| service | actions performed by a professional or group of professionals |
| variable | the fact that the quality of a service depends on the situation |
| Bill of Lading | contract between the products’ producers and the shipping company |
| Bulk Items | items that are stored in bins or tanks instead of individual packaging |
| Demand Forecasting | part of the logistics process that involves matching customer needs to the manufacturing process |
| Distribution Centers | warehouses that deal with products from different manufacturers |
| Documentation Flow | written or online evidence showing the movement of materials or goods through a system |
| Downstream | supply chain partners that provide goods and services to enable the company to get the completed product into the hands of consumers |
| Electronic Data Interchange | online system for documentation flow |
| Inventory | materials and products that a company physically keeps at its locations |
| Just In Time | inventory system in which a company has on hand only the exact amount of materials needed to create a set amount of product |
| Logistics | process of coordinating operations, especially complex operations with lots of moving parts |
| Pallet | wooden platform for storing and carrying large amount of products |
| Upstream | supply chain partners that provide materials and services to enable a company to make the final product |
