2. Key Topics Classification of products Consumer and producer products Innovation, technological change and R&D New product design and development Product life cycle Product differentiation Product portfolio analysis

3. Introduction Product Goods Services Functional Value Emotional Value

4. Classification of Products Product Item Product Line Product Mix Product Range Width Depth

5. Consumer products Fast-moving consumer goods Consumer perishables Consumer durables Specialty consumer products Producer products Industrial goods Fixed assets

6. New Product Design and Development Stages of NPD Sources of NPD 1. Market research 2. Development/testing 3. Feasibility study 4. Launch Market research Product extensions Research and development ‘me too’ developments

7. Product Life Cycle Research and development Launch Growth Maturity Saturation Decline

8. Product Life Cycle

9. Extension Strategies Price Reductions Redesigning Repackaging New Markets Promotion

10. Product Differentiation BRANDING Price Advantages Consumer Recognition and Loyalty Distribution Advantages

11. Product Portfolio Analysis Range of Products Strategic Business Units Boston Matrix

12. Market Share HighLow Market Growth High Stars Problem Children Low Cash CowsDogs

13. Correlating Product Strategy Market Share HighLow Market Growth High Stars Harvest Problem Children Build Share Low Cash Cows Hold Dogs Divest

14. Branding Create legal identity Identifiable logo Reduce risk Enhance image Generate sales

15. Brand Names Coined brands Bona fide names Acronyms Numbers Personal names Place names

16. Brand Development and Loyalty Key Terms Advantages Brand preference Brand loyalty Market/brand leader Brand development Brand switching Customer loyalty schemes Higher market share Charge premium prices Price inelastic demand Fosters extension strategies Higher barriers to entry

17. Product and Business Strategy