Product Management
Product * A good, idea, method, information, object or service created as a result of a process and serves a need or satisfies a want. It has a combination of tangible and intangible attributes (benefits, features, functions, uses) that a seller offers a buyer for purchase.
The Product Concept * This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features. * A philosophy that a good product creates its own market, and does not require heavy marketing expenditure.
Product mix * is the variety of products a company produces or sells to the marketplace. A product line often evolves, as manufacturers want to take advantage of a brand's value and the success of other products in the mix. Retailers carry a mixture of products to satisfy various customers. The product mix includes four common elements: Length, breadth, depth and consistency.
* involves planning and developing the right type of product that will satisfy fully the needs of customers. A product has several dimensions. These dimensions are collectively called product mix. Product mix for example may consist of size and weight of the product, volume of output, product quality, product design, product range, brand name, package, product testing, warranties and after sales services.
* the assortment of product lines that an organisation makes available to the customer. P&G not only produce laundry products, but also a significant variety of other lines including hair and beauty, baby care and pet nutrition products. The product mix is sometimes called the product portfolio.
The product mix can be described according to: * Width - the number of different product lines on offer. * Depth - the number of product items in each product line. * Consistency - the closeness of relationships between different product lines.
Product Classification 1. Consumer-Goods * Convenience Goods *
The Product Concept * This orientation holds that consumers will favor those products that offer the most quality, performance, or innovative features. * A philosophy that a good product creates its own market, and does not require heavy marketing expenditure.
Product mix * is the variety of products a company produces or sells to the marketplace. A product line often evolves, as manufacturers want to take advantage of a brand's value and the success of other products in the mix. Retailers carry a mixture of products to satisfy various customers. The product mix includes four common elements: Length, breadth, depth and consistency.
* involves planning and developing the right type of product that will satisfy fully the needs of customers. A product has several dimensions. These dimensions are collectively called product mix. Product mix for example may consist of size and weight of the product, volume of output, product quality, product design, product range, brand name, package, product testing, warranties and after sales services.
* the assortment of product lines that an organisation makes available to the customer. P&G not only produce laundry products, but also a significant variety of other lines including hair and beauty, baby care and pet nutrition products. The product mix is sometimes called the product portfolio.
The product mix can be described according to: * Width - the number of different product lines on offer. * Depth - the number of product items in each product line. * Consistency - the closeness of relationships between different product lines.
Product Classification 1. Consumer-Goods * Convenience Goods *