chapter 10 - Developing New Products and Services I. 3M's...

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Developing New Products and Services I. 3M’s new greptile grip golf glove,: how they get to the top of the leaderboard a. the product b. target market c. special marketing task d. product: a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value e. the life of a company often depends on how it conceives, produces, and markets new products II. the variations of products a. product line and product mix i. product line: group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed though the same type of outlets, or fall within a given price range 1. product item: a specific product as noted by a unique brand, size, or price a. stock keeping unit (sku): unique identification number that defines an item for ordering or inventory purposes ii. product mix: the number of products offered by a company b. classifying products i. type of user 1. consumer goods: purchased by the ultimate consumer 2. business goods (B2B, industrial, or organizational goods): assist directly or indirect in products for resale 3. some can be classified as both and each classification leads to different marketing actions ii. degree of tangibility 1. nondurable good: consumed in one or a few uses, food/fuel
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chapter 10 - Developing New Products and Services I. 3M's...

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