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Develop Effective Products and Services

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Presentation on theme: "Develop Effective Products and Services"— Presentation transcript:

1 Develop Effective Products and Services
Chapter 10-2

2 Product Everything a business offers to satisfy customer needs
Many ideas for product improvements result from the ideas of consumers and from their experience in using current products.

3 Plan Marketing Research
Define the marketing problem Study the situation Develop a data collection procedure Gather and analyze information Propose a solution

4 Types of Market Research
Secondary research is analyzing existing information gathered fro another purpose but used to solve a current problem Primary research is a study carried out to gather new information specifically directed at a current problem

5 Research Studies Surveys Focus Group Observation Experiments

6 Parts of a Product Basic Product Product Features Options Brand Names
Packaging Guarantee or Warranty

7 Product Planning Procedures
Idea Development Idea Screening Strategy Development Production and Financial Planning Limited Production and Test Marketing Full-scale Production

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