Something to Sell Building the Product What you should know. A definition of ?product,? and key characteristics of products. How ?goods? differ from ?services.? Different views of innovations. Factors that influence new product success. The new-product process. What is a Product? Products, Services, and Experiences Market offerings, pure tangible goods, pure services, experiences Goods vs. Services Goods: search, experience, credence Services: primarily intangible in nature Levels of Product Individual Product Decisions What Is The Actual Product? Product attributes Features Differentiation Value Quality Performance Conformance ? TQM From needs to satisfaction Style Design Building the Brand Why brand? Identify Differentiate Build brand equity Increase financial value Coca-Cola: $70B Microsoft: $65B Packaging the Product Purpose of package Packaging concept Product safety Importance of consumer perceptions Labeling Issues Label functions Identification Description Promotion Label requirements Legislation Recent changes Unit pricing Open dating Nutritional labeling What is a ?New? Product? Defining ?new? Firm-oriented Market-oriented ? by potential exposure Consumer-oriented ? by change to behavior Why Winners Win The New-Product Process If at first you don?t succeed?
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