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Product Design Chapter 4. Product Item Is a specific model or size of product Product Line Group of closely related products Product Mix All the products.

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Presentation on theme: "Product Design Chapter 4. Product Item Is a specific model or size of product Product Line Group of closely related products Product Mix All the products."— Presentation transcript:

1 Product Design Chapter 4

2 Product Item Is a specific model or size of product Product Line Group of closely related products Product Mix All the products a company makes

3 Product Classification Consumer Good Purchased and used by the ultimate consumer for personal use Business Goods Purchased by the organization for use in their operation

4 Point of Difference Is a unique characteristic or benefit that sets the product apart from a competitor’s product

5 Steps in New Product Development SWOT Analysis Idea Generation Screening and Evaluation Business Analysis Development Test Marketing Commercializtion

6 SWOT Analysis Strength Weakness Opportunity Threat

7 Focus Group A panel of six to ten consumers who discuss their opinions about a topic under the guidance of a moderator

8 Commercialization Is a process that involves producing and marketing a new product

9 Product Life Cycle Introduction – main focus is promoting consumer awareness and getting consumers to try the product Growth – more competitors enter the marketplace if they see a new product is successful (Powerade/Gatorade) Distribution is important Maturity – sales begin to slow down Decline – sales begin to drop. Technology advances can cause entire categories to entire decline stage

10 Repositioning Involves changing a product’s image in relation to its competitor’s image.


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