CH08: Designing and Managing Products Flashcards
product design
the totality of features that affect the way a product looks, feels, and functions to a consumer
product core functionality
the product delivers on its core benefit (e.g. a cell phone makes clear calls)
product features
varying attributes of the product that supplement the core function; iterable
product performance quality
the level at which the product’s primary characteristics operate; is growing increasingly important
product conformance quality
the degree to which all units of a product are uniform and meet specifications (i.e. quality control)
product durability
product’s expected operating life under natural or stressful conditions; extra price for durability must not be excessive
product reliability
measure of the probability that a product will not malfunction within a specified time period; i.e. the product will do what it is supposed to do every time
product form
size, shape, or physical structure of a product; can be closely tied to features (e.g. sedan vs SUV)
product style
describes the look and feel of the product to the buyer and creates distinctiveness that is hard to copy (e.g. Jaguar cars are recognizable from Mercedes cars, etc.)
product customization
ability to deliver exactly what a customer wants (e.g. NikeID)
the 3 aspects of design thinking
- observation
- ideation
- implementation
product portfolio
all products offered by a company, including all product categories and lines
portfolio width
number of different product lines a company carries (e.g. P&G is in oral care, fabric care, skincare, etc.)
portfolio length
number of items in the marketing mix (e.g. Colgate has toothpaste, mouthwash, floss picks, etc.)
portfolio depth
number of variants offered for each product in a line (e.g. flavors of Doritos)
