BUS 343 Chapter Notes -Observability, Fast-Moving Consumer Goods, Final Good
30 Jun 2013
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Product objective must be: (should be long term implications) Goods: tangible products we can see, touch, smell, hear or taste. Actual product: features, package, brand, quality, appearance. Augmented product: warranty, after sale service, installation, delivery, credit, product-use. Strategies for multiple products see figure 7. 4, 244. Product line: a firm"s total product offering designed to satisfy a single need or desire of target customers. Full line: a long length of products under a category. Limited line strategy: a smaller number of variations but images to be a specialist. Upward line stretch: adding more products to the upper expensive end of the product line. Downward line stretch: adding more product to the lower cheaper end of the product line. Two way stretch: adding items in both the upper and lower end. Filling out strategy: added sizes or styles not previously available in a product category. Contract product line: make items only when they are popular, dispose of when not.
