Product strategy Flashcards
1
Q
What is the 4p ?
A
- Place
- Product
- Price
- Promotion
2
Q
What is a product ?
A
It is not features but benefices.
the product as a satisfaction
3
Q
What are levels of a product/service ?
A
- Core product
- Tangible product = packaging quality brand name etc
- Augmented product = after sale etc
- Communicated product = branding
4
Q
What is the product classification ?
A
convenience goods
shopping goods
specialty goods
unsought goods
5
Q
Product policy decisions ?
A
- product attributes
- branding
- technical communication
- product support and services
6
Q
What is the product lifecycle ?
A
Product development introduction growth = profits maturity = profits decline
7
Q
What is goal of the importance of new products ?
A
- sustain corporate growth and profits
- replace obsolete items
- better satisfy the needs of current and future consumers
8
Q
What are the characteristics affecting new product diffusion ?
A
relative advantage compatibility complexity observability trialability
