10     Product Concepts

 

Turning a Passion for Kite Flying into Profits

 

Product:  good, service, or idea received in an exchange

Suggest a variety of products (be creative!)

 

A.  Classifying Products

            1.  Consumer products:  satisfying personal and family needs

·         Convenience

 

 

·         Shopping

 

           

·         Specialty

 

 

·         Unsought

 

2.  Business:  used in a firm’s operations, to resell, or to make other products

·         Installations

 

·         Accessory Equipment

 

·         Raw Materials

 

·         Component Parts

 

·         Process Materials

 

·         MRO Supplies

 

·         Business Services

 

B.  Product Line, Product Mix, Product Width, and Product Depth (explain each)

 

 

 

C.  Product Life Cycle (explain each phase and special characteristics of each)

1. Introduction

 

 

2.  Growth

 

 

3.   Maturity (be sure to explain objectives as well)

 

               

                How did Cadillac do it?

 

4.  Decline

 

 

D.  Product Adoption Process (explain when  you would move into each stage)

 

 

 

E.  Why do some products fail and others succeed?

 

 

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