product design chapter 4. product item is a specific model or size of product product line group of...
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Product Design
Chapter 4
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Product Item• Is a specific model or size of product
Product Line• Group of closely related products
Product Mix• All the products a company makes
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Product Classification
Consumer Good• Purchased and used by the
ultimate consumer for personal use
Business Goods• Purchased by the
organization for use in their operation
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Point of Difference
• Is a unique characteristic or benefit that sets the product apart from a competitor’s product
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Steps in New Product Development
• SWOT Analysis• Idea Generation• Screening and Evaluation• Business Analysis• Development • Test Marketing• Commercializtion
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SWOT Analysis
• Strength• Weakness• Opportunity • Threat
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Focus Group
• A panel of six to ten consumers who discuss their opinions about a topic under the guidance of a moderator
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Commercialization
• Is a process that involves producing and marketing a new product
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Product Life Cycle• Introduction – main focus is promoting consumer
awareness and getting consumers to try the product
• Growth – more competitors enter the marketplace if they see a new product is successful (Powerade/Gatorade) Distribution is important
• Maturity – sales begin to slow down• Decline – sales begin to drop. Technology
advances can cause entire categories to entire decline stage
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Repositioning
• Involves changing a product’s image in relation to its competitor’s image.