BUAD301 Lecture Notes - Lecture 9: Iso 14000, Iso 9000, Six Sigma
22 Oct 2018
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Document Summary
Product planning: develop product objectives and product strategy. Effective product planning is guided by a process of product management. A systematic/team-based approach to coordinate aspect of a product"s strategy development and execution. Clearly stated to provide focus/direction; should support broader marketing objectives and be consistent with firm"s overall mission. To be effective, objectives must be measurable, clear, realistic, and indicate a specific time frame. Introduce new products, introduce nationally (regional product), increase consumer enthusiasm (mature product) Product line extensions: total product offering to satisfy needs. Stretching: adding items to line (upward, downward, two-way) Product mix: total set of products a firm offers for sale. Product quality: how well products satisfy customer expectations (key objective) Six sigma methodology: < 3. 4 defects per million units. Durable, reliable, versatile, satisfies needs, precision, ease, safety. The product life cycle (plc): explain how market response and marketing activities change over the life of a product.
