Product

Product - Product Branding Towns Spring 2009 Product Everything both favorable and unfavorable that a person receives in an exchange Tangible

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Towns, Spring 2009
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10-2 Product Anything that can Be offered to a market to satisfy a want or need. Everything, both favorable and unfavorable, that a person receives in an exchange. Tangible Good Service Idea
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10-3 Types of Products Business Product Consumer Product A product used to manufacture other goods or services, to facilitate an organization’s operations, or to resell to other consumers. A product bought to satisfy an individual’s personal needs or wants
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10-4 Types of Consumer Products Market Development Diversification Increase market share among existing customers Attract new customers to existing products Introduce new products into new markets Create new products for present markets Convenience Product Shopping Product Specialty Product Unsought Product A relatively inexpensive item that merits little shopping effort A product that requires comparison shopping, because it is usually more expensive and found in fewer stores A particular item for which consumers search extensively and are reluctant to accept substitutes A product unknown to the potential buyer or a known product that the buyer does not actively seek
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10-5 3 Levels of Product Core Benefit Transportation The car – color, styling, brand name, features Warranty, service
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10-6 Durability and Tangibility Nondurable goods Services Durable goods
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10-7 Product Differentiation Product form Features Performance Conformance Durability Reliability Reparability Style Design Ordering ease Delivery Installation Customer training Customer consulting Maintenance
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10-8 Design Differentiation
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10-9 Maintenance and Repair
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10-10 Product Life Cycle
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10-11 Facts about Life Cycles Products have a limited life. Product sales pass through distinct stages. Profits rise and fall at different stages. Products require different marketing, financial, manufacturing, purchasing, and human resource strategies in each stage.
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10-12 Style, Fashion, and Fad Life Cycles
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10-13 Introductory Stage High failure rates Little competition Frequent product modification Limited distribution
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This note was uploaded on 04/22/2009 for the course BUAD 307 taught by Professor Morristowns during the Spring '07 term at USC.

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Product - Product Branding Towns Spring 2009 Product Everything both favorable and unfavorable that a person receives in an exchange Tangible

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