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benefits have turn some level three benefits into a customer expectation for example
customers expect cars to have manufacturer warranties.
Levels of Product Attributes
A product exists on three basic levels:
Product planners need to
think about the product on three
levels:
The core product -- what is
the buyer really buying? The
core product refers to the use,
benefit, or problem solving
service that the consumer is
really buying when purchasing
the product, i.e. the need that is
Example:
automobile offers
being An
fulfilled.
personal
transportation
(core
The
actual product
is the
product),
has
many
different
features
tangible product or intangible
andservice
attributes
and
that(actual
serves product),
as the
maymedium
include for
a manufacturer's
receiving core
warranty
or
dealer's
product benefits:discounted
serviceQuality
contractrefers
(augmented
to product
product).
performance.
Features include
combinations of product
attributes.
Styling refers to the design,
aesthetic, or ergonomic aspects.
The Brand name helps
consumers position and identify
the product.
Packaging protects and
promotes.
The augmented product
consists of the measures taken to
help the consumer put the actual
product to sustained use,
including installation, delivery
& credit, warranties, and
after-sale service.
A product, therefore, is
more than a simple set of
tangible features. Consumers
Assess the value of current services and obtain ideas for new services.
Put together a package of services that delights the customers and yields
profits for the company.
Product line decisions
Product line is a group of products that are closely related because they function in a
similar manner, are sold to the same customer groups, are marketed through the
same types of outlets, or fall within given price ranges. For examples, UNILEVER
products (FMCG), NOKIA products.
The major product line decision involves product line length means, the number of
items in the product line. The line is too short if the manager can increase profits by
adding items; the line is too long if the manager increase profits by dropping items.
A company can lengthen its product line in two ways: by line stretching or by line
filling. Product line stretching occurs when a company lengthens its product line
beyond its current ranges. It means, adding products that are higher or lower priced
than the existing line
Step 1: Generating
Utilizing basic internal and external SWOT analyses, as well as current marketing trends, one can distance
themselves from the competition by generating ideologies which take affordability, ROI, and widespread
distribution costs into account.
Lean, mean and scalable are the key points to keep in mind. During the NPD process, keep the system
nimble and use flexible discretion over which activities are executed. You may want to develop multiple
versions of your road map scaled to suit different types and risk levels of projects.
Step 7: Commercialize
At this stage, your new product developments have gone mainstream, consumers are purchasing your good
or service, and technical support is consistently monitoring progress. Keeping your distribution pipelines
loaded with products is an integral part of this process too, as one prefers not to give physical (or perpetual)
shelf space to competition. Refreshing advertisements during this stage will keep your products name
firmly supplanted into the minds of those in the contemplation stages of purchase.