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Product Decision - Marketing, Study notes of Marketing Management

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2022/2023

Available from 08/24/2023

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(MoDULE:
02
Psuoduct
Decision
"Broduct
:
Concept
R
levels
classfcafon
of
congume
and
Industotal
products
Pstoduc
OPfesentfatfon,
B1oductM8c.
New
psioduch
dwelopment
Pstoduct
LPf
Cyele
and
vauous
chotegfea
Packag?ng
and
Labelng.
pf3
pf4
pf5
pf8
pf9
pfa
pfd
pfe
pff
pf12
pf13
pf14
pf15
pf16
pf17
pf18
pf19

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(MoDULE: 02

Psuoduct Decision

"Broduct :^ Concept Rlevels

classfcafon of^ congume and

Industotal products

Pstoduc OPfesentfatfon,

B1oductM8c. New psioduch dwelopment Pstoduct LPf (^) Cyele (^) and (^) vauous chotegfea Packag?ng and Labelng.

PRODUCT IWhat is a B1oduct 2 Ang-thing of^ vabre (^) that cao (^) be (^) offeredto -the

moreto fufl -the sequDLe men /uoant o a

of the end- usês is need

khousn aq fsjodue

Hcan (^) be (^) àoods or servlces, (^) tongble do physica or^ psycho (^) logica).

Psoduc t Concept

F

  • off,cn-morree- (^) Sabtw (^) Em

The potoduct concept is a

ideq (^) -that (^) s1evolves fundamerta maiketiog atound (^) the (^) belief (^) th customeas

usy (^) Favo pioducte (^) tho (^) offer (^) the (^) best pesiformance, or^ Ponovtive (^) Featuses,

Value -bajed poifeeg

îrtongible,

4- emphaciees thoe (^) companied (^) ohould corinuously (^) impstoving (^) thefr fouu^ on

eXCeed eutomer prioduct to mee

ot fsiom competors.expetoiong and stand

AMtoactivenecsna ket offering ofthe

Bioduct

Feo-tuseg anc

quabty

Serviteg

Componet of -the motkef offesin

mic and

Use

quotey

oly e/miiymyequjems- 2, GENERIC PRODULT The (^) genottc poduct leve) foeudeg the bas?efe oeuta and (^) funcfons -that (^) he (^) pstoduct (^) prevides.

To

IFstepsesents -the minimum s1equinemerts to Fulf| he coe beneft.

erpoodbywshomern

fulfay core

benofs

For (^) example; ln (^) case of (^) smatphone, the (^) genec pstoduct level (^) încludec (^) faoustee 1fke

aod irtenetaceese, calngtexting

'aiul

  1. ExPECTED PRODUCT

Tobe

The expeted pstodúc level refes to-the set of ctfibutes and (^) fectuea (^) -tho (^) customers (^) Kpect. to be pstegent in a pyodf. These au the fèotwes thot ae commonly ava< able a9d consideyed staodond n the masjeef, for example: For Smutphone, expeted poodue attibel woud be a camesg. Jouch ocoeen frtert aee,

appcomperblHy, and long bocteoy ife.

  1. AuGMENTED PRODUCT unexpete or Exba tealyre/ Ha'dferetiole fom Conyedty The augmerted poroduct level goes beyond -the
expected fentumes and Ynclude addh}fona! atibues

aod benefte that differentfae the psiocuetfom

Competitors, Thege se eha Feotuses th ot poovîde

enhanced yalye qnd att faton to uttomeTg,

for example: In cale oF emosphone, could

be facjal (^) stecogtioo, (^) usterproofing, (^) hgh-esol ution dia play, qnd ace9g to exuive orvfee,

  1. POTENTIAL PRODUCT

The poterfal^ psoduu^ level^ repoelentt^ a!^ the po.csfble ftusie enhan emente, înnovtfona and expanaions tha.Could be mado tothe pioduct, hese S1 the fetusas and beneft hat ae^ not^ cyT6etly^ avy^ abale be irtoocucecd in -the frfse to Custo me neede and stoy ahead

eyhres) benefat

for exomple^ In^ smaphone,^ poterfo!^ prooduiit

featuew migket^ include^ virtua)^ ealt^ ntegoefnd,

advanced biomeric authev

Tnteugence apobilihea.

Avid obe

meef evo lving ofthe compesbon.

otfon,

Noh unrtyTobefnrodutad

in fwe

outfial

eoing

eedy'

btcoul

(C) Spedolthy fsoduets : Specabhy faodute are

(d)

unique or s pecjffe teme that consumec ane wilying to make a speal otfortto qcquna. These (^) pooducts (^) often (^) have high (^) boand (^) loyaty, |mtea (^) ditibuefon, (^) apd.asLe (^) aicodeted sth a^ pastftay bnand or (^) speefffe astei (^) bute. Exompk; (^) luxusy (^) goodi, (^) bigh-end (^) cang,

ceatgneg clothing qnd excu?ve

Unsought (^) B1oducke : (^) Unsoyant f1oduutt tems (^) thot (^) consumeot. m y (^) not acttve (^) seek t

o1 thok obout pusichaing. These

prtodut (^) typicaly

hin yeq (^) uie (^) 9goerve (^) makehng and (^) sa<er (^) effort

to geneate

Concumes îrterregH.

Exomple :^ e insula nce, fuheral sevees,

emersgeny medr^ çoy^ upplea, md (^) new-to-m nnovetive podudt, onket temy

wbyel.

(unsoughtNa manga

geher ote.

owrmes

a. Industîa Bioducks

Induta pstoducks , als

business (^) (828) (^) ps0duets, one

th a ase ueed in -the goodu

BaBreduk

uied in (^) the psodutfon (^) psOCeLe

alo kooush al buines -to

cold to othes bu sine

aseg for opey

cfonal puposel.

(4) (^) Moteyfayo qhd Posts :^ These

thetso used as tw

fo-the pstoducton mtesal!^ bo^ componett

pocess of^ otheg (^) goodR.

have ahigher

Example :^ Stel, pl (^) astfe, amo chemicas. eletsonfe^ componenta,

wed/lold

snod 01 in^ bwmes (^) oparons (^) duon (b) (^) Capital (^) Hems : (^) CapYtal (^) tems goods (^) tthet (^) asu (^) used by (^) bwineces tolong- (^) ad^ lastingPo

os1 opoafons.
evalu atfon befoe puch age.

poaly they

Erample :^ Machfnery, equipment, bildinge,

amd vehfdes.

tc) (^) Supplfes and (^) estves: Supplfes end (^) Sovlees

encompaes poioduto th ac osce congumed

the potoducHon ps10ce asut do not

pose (^) ofFthe become fool (^) pstoduet! Example :^ lubsiconts, offfee Qupplfes

bewe

duoirg

maîrtenqnee Lervtes ,^ and coneutng

seies,

Ahapredut

thei pstocuetfon

U) Pyodu+ Atsubutel: Brodutt (^) attoibute (^) fferertiahorn (^) îovolves (^) esploiting

-the actual

ofthe chanachteofeticg,Featusae,^ or^ qualtieg

pstodutto dihoguih st from omyesti

C

" Desgn and aasth ofet

(oppeating (^) eusque) peoform anie (^) md (^) Faneon

abtyQupessr

Guabty (^) and (^) aabiityc hagquatoty, dunab le

eofooman ee

. PackagingC^ eye-cattling Oustomgctfon (^) optfovQ (^) (optone forpesonoßeu (u) (^) Fm-Cuetormey suttonghipe :

LR

Thle cotegoy fnvo lyes

bothe om (^) and at eaplatng^ the^ sul^ ofongkps Fenotion wtomeT^ to^ ceate^ q adwaretage l+^ fouuer on (^) byd, soong coh^ nection (^) m4 (^) poovding exeptioa

. (^) cutomer (^) service (^) Cafder-s ale (^) Serice')

Loyaly foogoang

Customi tfon (aousing cuttornegs to utomsg e)

Poptaon Brand image (posone imagay

Ousto (^) me (^) engagemeut

Clnteratve gelafoxsp

ur tome eqerñeel.

.efecty)

to eahou disrobeyonchonele citomexmre oiie"

Dfctbetfonehannele 'ne ragingexlu

reste que

rtenirehmeyry)

abe to,ff enRrell

Shoatgfe allfoneag

Supply chao

Collaboetfoue

(^14) fnvolvea everagng chategiepepatres

one to the dffesetateesocut,

sthsqlatohipenthefi anm or sth otheo

m ThÊt Lokages: catgoyfouuegon tig

SSO

Fsoduh line: (^) Biodut- fine Po (^) a (^) goup of (^) relateg

Boduct Widt

band (^) name that (^) cold (^) bythe Lame comnp For (^) example : (^) Apple ofeas TPhone, 1fod, lpod, MauBook, tuneg ete.

WPd+h^ efens^ to^ the^ totaynmber of (^) piodut nee (^) canfed ay (^) the busfoess.

Bioduet (^) length : (^) The (^) total (^) numbeg of (^) orodiut aeroe al (^) poioduet (^) I?neg.. (^0) the (^) totay (^) no, of rooodus To aa company erfe

Bocuc+ (^) Degth: (^) The (^) numbe of (^) diffeen

arodut

vosoarts o^ choiceg (^) avlable.

ustthin qspefe foodueo lne.

Psi oduct line 1

Pioduct-Depth

Poduch

Poduct

Length

Depth

Company Biotuc-ofdH

Consiste

Btoduch loe 2

Bioduch

Psoduc-

Bioduet &

Poduet Length Pioduc+ Consisten c

A (^) paodumix saategg bag^ fo°o^ dimeneions: Totoy no, (^) of (^) poodet (^) lines.

Psioduet Roe

Broduu

Biodut

One arnothes.

LBiodut

’Totol no.^ oF produets n producr nix

+Total no (^) of (^) produiet (^) vasytiong n (^) q psioduclne

Ih dfco es hos

oroductlines re<ote to

2,ldeg (^) Serecn'og: In-his (^) stoge,-the (^) genevated Poeag

arw evalate and eened baged
epeffe otevtq such a masiat pvterfod,

feas?uility grment scth company oectal,

qmdreorote requomerrta.Thi

3. oneept Developrmert andTos4na : Tho

selated ioeag

uthen (^) daveloped rto (^) ooodu (^) concepto.

fsocuetcncepte out!îne the balic tetyog, benef6e,

amd vale ooDposÝen o o nes

These eon (^) eeots orDdut. orae (^) teated unh (^) torget

cuttomeras

torugh sura (^) focus (^) goou, or feedbaek and^ refine (^) the ooootper^ dogtter eoncepte (^) frother. 4.A.^ Buslnee (^) Analyes : (^) Tht (^) stoge Involvel eon (^) dufig

athoough ase9Smagrt 0f tho fiogmgal

viabi lrty cnd pojentfa pooftob2}ty of tho eus

poodant (t nebndi eraluag the

asömates cost

Csoles (^) orgeatfona, mastat-oze, (^) Comelhioni and (erpefettunin on^ invegirmeht The (^) qnolyse (^) hele making (^) nformed (^) dodsoud teag?il (^) of (^) moving (^) forusgo wth (^) dhe dwtopmat.

the

Thihelpe fo (^) fasutify to'mast (^) poromsing dag (^) and (^) liminuto-those tth

  1. Boduet Development : Once the bulinese malåuf: Podieotes apoctfve outt oo (^) k, (^) the (^) fooduedelopmet Stsge (^) begine. (^) Thâ (^) tmolva (^) darigng ond (^) engireniog fthe (^) potodut, (^) cretfng (orokoypo, ond^ tond (^) uctng. extensvettfngmd -to^ ensurre^ functfonally rqualiy pestom (^) mae. (^) hiy (^) tage (^) allo (^) in (^) cdeg
e Mayket Testin9: Befre g fuScale lauech,

So me Componfes opt to test the nes produut in aspocfe mankator seleted regong. Ths (^) helpto gage (^) oDneuTme (^) esponNe, (^) fhe-tume

aeetig sirotgales, amd gatherr adtfon a datg

tofürstheg (^) Teffne (^) -the (^) psdutt

m

7 Commesicalizaon :^ (Fthe^ manket (^) testing (^) phase

fs gucceLCful, the pouduet moves irto the
nmerializtfon tage."Tho involvee fihaag he

moseth9 (^) plan, (^) roduefon (^) 2eae (^) -up, dâ (^) ofbfo Channe! setup, md împlemevting q conrehan?ve

launch Shoay. I4 also focudu hahina 2ales teome

ooepay promtonal matenala, md ?nPaog adivertiin g nd pronotöno ampalgta to genenate

Com

duelopn gthe (^) pasl<ogng (^) aynoling 0n pasictiog (^) Shotgy fro (^) he (^) heus (^) (rodue.

usaSonee ro^ ove^ 2alee.

The fodu c+ LiR ycle CPLC)

ttat o Hefento^ the^ stogal

psoduct goes -thro ugh fom sts

tothe (^) mostke (^) untfl (^) ?ts Ptyoduchfan I+ evertual^ dedine. encompacses the^ Portoducon, (^) qrDsth, and (^) declhe (^) stogec motus, saes (^) md 1eleettoA^ the^ chamging ) pstoftabll?t4^ pattens oF (^) tte

rrodue

Overotne. Y+g

The PLC

the CDncept^ helpe^ eompanies^ understmd

psiodunts (^) moset (^) dynam>as, nake de sions, and (^) al strage ocate eROUgTel (^) effeetvel t each stoge of t 1?fe

Salel

Gguing

Bocuct LÝfe (^) Qyele (^) (PLC)

baleCustome " Bsiand Büdlog

GolningProf

cycla.

Gaosng (^) stablifzet (^) "Re (^) fnvent

Irtsoduchon Gsouth

salasfeaDe cl ne Sajeg

pstocwcIMaketdemana^ fod

TAme

Sotuocethon. IoNeed-to | Innovote ney Motuaty

BrodetLPfe yele

AmpdoÑn

Theye a fou stagosstagos of PLC :

. Iotsjoducfon " Goouoth " MotsUy " Decdoe

ty oductfon tgo.

PoduePs (^) lnboduoed Porto (^) ho (^) mare

non edence

Stsceaies forthie Stage:

cHigh (^) porfe (^) high (^) aromojon)

() Slous Rfmming totegy

(U0) Rapd

peneraton (^) Qhoatgg (1ousoce /he^ aw (^) fo (^) omaso)

Skimning

(u) (^) stoo (^) fenetyatfon Rratagy (^) Jpenetoyaon (Lous (^) ofe | (^) Lo qomofi on^ )