Chapter 8: Product I Innovation And New Product De
Chapter 8: Product I Innovation and New Product De
Exam (elaborations)
Chapter 8: Product I Innovation and New Product Development
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Course
Chapter 8: Product I Innovation and New Product De
Institution
Chapter 8: Product I Innovation And New Product De
Chapter 8: Product I Innovation and New Product Development
Market Offerings ️Pure Good, Continuum to Pure Service. Usually somewhere in the middle with
characteristics of both.
Layers of the Product ️Core product: key benefit(s) of product. Actual product: good or service that
provides...
Chapter 8: Product I Innovation and New Product Development
Market Offerings ✔️Pure Good, Continuum to Pure Service. Usually somewhere in the middle with
characteristics of both.
Layers of the Product ✔️Core product: key benefit(s) of product. Actual product: good or service that
provides benefit(s). Augmented product: supporting services and benefits that enhance actual product.
4 Types of Consumer Products ✔️Convenience, shopping, specialty, unsought.
Shopping ✔️Less frequent purchases, more shopping effort, price, quality, and style comparisons. More
selective distribution in fewer outlets.
Specialty ✔️Strong brand preference/loyalty. Special purchase effort, little brand comparison, relatively
high price. Exclusive distribution through few outlets.
Unsought ✔️Little product awareness, sometimes negative interest. Pricing/distribution varies.
Aggressive advertising and selling.
4 Types of Business Products ✔️Equipment, MRO, Materials, Components.
Equipment ✔️Used in daily operations.
Maintenance, Repair, and Operating (MRO) ✔️Are consumed relatively quickly in order to run business.
Materials ✔️Raw materials: products of fishing, lumber, agricultural, and mining industries.
Processed materials: produced when raw materials are transformed from original state.
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