Study with the several resources on Docsity
Earn points by helping other students or get them with a premium plan
Prepare for your exams
Study with the several resources on Docsity
Earn points to download
Earn points by helping other students or get them with a premium plan
Community
Ask the community for help and clear up your study doubts
Discover the best universities in your country according to Docsity users
Free resources
Download our free guides on studying techniques, anxiety management strategies, and thesis advice from Docsity tutors
An overview of the classification of consumer goods based on convenience, shopping, and specialty. It also discusses the concept of product mix, width, depth, and consistency in product mix strategy. The document concludes with an introduction to new product development and the product innovation process.
Typology: Slides
1 / 10
This page cannot be seen from the preview
Don't miss anything!
-^
CONVENIENCE^ –
PURCHASED WITH A MINIMUM OF EFFORT
-^
SHOPPING^ –
HEAVY COMPARISON OF PRICE, QUALITY, AND STYLE
-^
SPECIALITY^ –
VERY STRONG BRAND PREFERENCE: SPECIAL TIME ANDEFFORT - PRICE NOT VERY IMPORTANT
-^
UNSOUGHT^ –
This is a difficult product. Examples:
-^
Life insurance to young unmarried men
-^
Umbrellas to young unmarried men
-^
Vacuum cleaners to young unmarried men…..
-^
Chain Saws to young unmarried women….
Decisions made at three levels:1 Product ITEM (specific version) - keep or drop.2 Product LINE (group of related products) -
deepen or shorten. 3 Product MIX (composite of all products) -
‘what markets to be in’
there are within the company.(Sears - WIDE - Circuit City - NOT AS WIDE;Britches - NARROW)
3 CONSISTENCY - Relationship of products to
one another - in end use. (i.e., INTERACTION -together)G.E.; XEROX - GOOD CONSISTENCYHUNT-WESSON -Paint, Matches, Food
A continual addition of new products and
deletions of old to meet the company’s needs.
Product Innovation Process
(New Product
Development)
Starts with a product idea
-^
Let’s take a North American summer staple -corn
