lesson 3: product development Flashcards
types
1. product-
2. service-
3. combination -
tangiable
intangible
product and service
classification of product
consumer product- ready for use or consumptions of consumers
ex: coca cola
industrial product- used to create or manufacture another (industrial or consumer product) ex: cold drinks
ready for use or consumptions of consumers
ex: coca cola
consumer product-
- used to create or manufacture another (industrial or consumer product) ex: cold drinks
industrial product
- item offered for sale which can be physical or virtual in form.
product
- is a process that is intangible. This means it doesn’t have physical dimensions to it; it can’t be measured or weighed.
service
______ is when a business offers a service and a product or a good together as its practice. This is also called _____
service product , service-good mix.
On the basis of the purpose for which they are bought
PRODUCT CLASSIFICATION
Goods or Services which are bought by final consumer for consumption. These are further classified into durable goods and non-durable goods
consumer product
Products which is purchased for further processing to produce other products. Examples: raw materials, component parts, major equipment, operating supplies, etc.
INDUSTRIAL product
It is anything that can be offered to a market to satisfy the desire or need of a customer.
product
This is also called ——-service-good mix.
service product or combination
A_______- is a product which is totally new in concept. It is also defined as any product which is perceived by the customer as being _____
new product, new
category of new product;
A COMPLETELY NEW PRODUCT
INNOVATED FROM AN EXISTING ONE
- increasing competition
ex: nike and adididas (nag gawa si nike new shoes gagawan ng bagong version nmn ni adidas) - changes in consumer needs
ex: age, height etc
- bear brand of nestle
childrens milk- adult milk
unhealthy- vegetarian
increasing competition ex:
- converge vs pldt
- lenovo vs acer
- iphone vs samsung
- tesla and nissan
REASONS FOR NEW PRODUCT DEVELOPMENT
INCREASING COMPETITION
CHANGE IN CONSUMER NEEDS CHANGES IN TECHNOLOGY DIVERSIFICATION OF RISK
REPUTATION AND GOODWILL UTILIZATION OF EXCESS CAPACITY SEASONAL FLUCTUATIONS
GROWTH AND DEVELOPMENT
- is the process of companies and individuals competing in the same industry or field. This sort of competition applies to all businesses.
increasing competition-
(business competition)
can be attributed to technological improvements or in changes in people’s knowledge and priorities. Businesses must adapt in order to meet customer’s needs.
CHANGE IN CONSUMER NEEDS
business
- existing or
- yet to be opened
? is the overall process of invention, innovation and diffusion of technology or processes.
CHANGES IN TECHNOLOGY
? is the process of investing across a range of industries and categories within one portfolio. This ensures that even if some invesment perform poorly, other investments can cover the loss.
DIVERSIFICATION OF RISK
sm investment corporations
sm retail- 77.3%
multi reality development corporation- 90.9
IBSC- 99.7
chinabank- 19.9
sodexo- 40
henfels investment corporation- 99
belleshares holdings inc- 99
asia pacific computer technology center inc- 51.8
citymall- 34
negros navigation- 34.5
sm prime holdings- 77.3
sto roberto marketing corporation- 100
Bdo unibank- 44.3
primebridge holdings inc- 98.2
MCMDL- 29.3
Mountain bliss resort and development- 100
the B- 62
nagtahan property holdings - 99.7
net group-
___ is an intangible asset and always has a particular value. ___ is a favorably disposed attitude toward someone or something while reputation is what somebody is known for.
GOODWILL AND REPUTATION
