Production & Operation Management Product Development Product Development Tools/Techniques Submitted To Prof. P.S.Gill Submitted By Manish Singh MBA-2nd‚ RIMT Punjab Technical University Jalandhar Product Development Meaning: Product development is the carried out after research which follows pure research. Development is the work contributing towards improvement in the existing knowledge by way of improved ideas‚ systems‚ techniques‚ etc. Product development is a specialized
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information: Describe product mix () under the corporate brand by identifying the product width (categories of products) and depth (products within the categories) Pick 2 specific brands or product items. Describe the target market for each of the 2 brands. Explain your reasoning Johnson and Johnson – www.jnj.com In Word‚ create a table to organize the information: Describe product mix () under the corporate brand by identifying the product width (categories of products) and depth (products within the
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Product standardization Definition : Product standardization in business is the process of developing same product for multiple countries. Advantages: The main advantage of product standardization is cost saving. Cost reduction will give economies of scale. Since you are making large quantities or the same‚ non-adapted product - you benefit from the advantages associated with manufacturing in bulk. For example‚ components can be bought in large quantity which reduces the cost-per-unit. These
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Product Levels: The Customer-value Hierarchy The marketers need to address five product levels. Each level adds more customer value‚and the five constitute a customer-value hierarchy. 1. Core Benefit The fundamental need or want that consumers satisfy by consuming the product or service. Example 1: In case of a car Transportation from one place to another. Example 2: The customer in search of a hotel room demand only rest and sleep from a marketer. 2. Basic Product
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Product placement‚ or embedded marketing‚ is a form of advertisement‚ where branded goods or services are placed in a context usually devoid of ads‚ such as movies‚ the story line of television shows‚ or news programs. The product placement is often not disclosed at the time that the good or service is featured. Product placement became common in the 1980s. In April 2006‚ Broadcasting & Cable reported‚ "Two thirds of advertisers employ ’branded entertainment’—product placement—with the vast majority
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Youngstown Products‚ a supplier to the automotive industry‚ has seen its operating margins shrink below 20% as its OEM customers put continued pressure on pricing. Youngstown produces four products in its plants and has decided to eliminate products that no longer contributed positive margins. Details on the four products are provided below: Products A B C D Production Volume (units) 10‚000 8‚000 6‚000 4‚000 Selling Price $15.00
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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‚
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Identify two new products (introduced to the consumer and/or business markets within the last year) and classify them as either: a new-to-the-world product‚ a new product line‚ an addition to the existing product line‚ an improvement and/or revision of existing product(s)‚ or a repositioning of an existing item. For each product selected‚ identify what challenges you think the developing company faced in marketing this product. What rate of diffusion and consumer adoption do you foresee for these
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For Pleasure Only Salon • Spa • Bar New Product/Service Development Plan Presented by: Christopher Amos Table of Contents Page 1. Executive Summary 2 2. Complete Product/Service Description 3 3. Benefits that customers will both recognize and realize 3 4. Competitive Analysis 4 5. Market-research steps necessary to test the concept 6 6. Safety or Health concerns with the use of your innovations 10 7. Development Strategy 10 8. Launch
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The birth pains that marked the launching last year of K + 12—a bold program meant to align the Philippines with the global 12-year basic education cycle—are not going away soon‚ along with the usual problems encountered at the beginning of each school year. A quarter of the Philippines’ nearly 100 million population are students—some 21 million of them enrolled in more than 46‚000 public schools and the rest in private facilities‚ according to statistics from the Department of Education (DepEd)
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