Explore the world of products! Learn about different product types, characteristics, and strategies for development, marketing, and management.
A core product is a company’s nucleus, the main product or service a company creates to meet a specific demand. These levels are well intertwined through the new product development process and marketing strategies, where they share a symbiotic relationship.
Product augmentation can be accomplished by adding a variety of different add-ons to the original product… The augmented product then contributes to a better customer experience. This also makes major contribution to brand loyalty and creates a favorable purchase experience for the customer.
Your Idea to Market Success: The Roadmap to New Product Development
Got a brilliant product idea? Understand the steps to turning it into a profitable reality. Learn about idea generation, market research, concept testing, and the critical launch phase.
Tangible or intangible? Consumer or industrial? Core or augmented? Your product is much more than “something to sell”…
Many products aren’t on consumers’ radar initially – these are called unsought products. Learn effective marketing strategies specifically designed to create demand for products that people don’t realize they need.
Convenience products are characterized by a number of criteria… Examples include bottled water, laundry detergents, fast food, sugar, and magazines. These products are usually low-priced and placed in many locations to make them readily available when consumers need them.
The product life cycle describes the steps a product goes through from beginning to end until it eventually disappears from the shelves. Each phase has its own characteristics and requires unique strategies to ensure success.
New product development (NPD) isn’t without hurdles. Learn about common challenges during NPD, including legal barriers, distribution issues, and the importance of thorough planning to overcome them.
In order to develop products that provide value to consumers, it is important to understand the key consumer product characteristics. What are the criteria to think of when designing a new product?
The concept of product as a bundle of benefits is a theory which seeks to explain a product from the viewpoint of a consumer… Since marketing involves seeing everything the firm does from the viewpoint of the customer, marketers define products as a bundle of benefits.
