2.2.1 product

Question 1

what is added value?

Answer 1

difference between selling price and cost of manufacturing

Question 2

what are the aspects of the design mix?

Answer 2

cost
aesthetics
function

Question 3

what is cost (design mix)

Answer 3

can it be produced at a cost that allows the business to make a profit

Question 4

what is aesthetics (design mix)

Answer 4

how it looks
how it feels
satisfy senses

Question 5

what is function (design mix)

Answer 5

fit for purpose
reliable

Question 6

what is economic manufacture

Answer 6

making the product cheaply enough to make it profit table.

Question 7

what is extension strategy?

Answer 7

an attempt to prolong sales of a product for the medium to long term, to prevent it from entering its decline stage.

Question 8

what is product differentiation?

Answer 8

the extent to which consumers see your product as being distinct
from its rivals.

Question 9

what is the product life cycle?

Answer 9

the theory that every product goes through the same four stages of
introduction, growth, maturity and decline.