3.12 - Product Flashcards
1
Q
A product can be?
A
Tangible - Physical
Intangible - Service
2
Q
What will the decisions about a product depend on?
A
Category of product - convenience, shopping, speciality, emergency and unsought (impulse)
Targeting B2C or B2B
3
Q
What are the influences of a new product development?
A
Market Research gathered Skills and expertise of staff and managers Management experience and knowledge Technology advancement Competitors actions Scientific developments and innovation Social Trends
4
Q
What are the factors that will influence Larger Transactions than Consumer Marketing?
A
Specialist buyers and sellers Quality Informative advertising Pricing Buyer seller relationship
5
Q
What does Developing Products require?
A
Time and money
This phase is called Research and Development
