Develop Effective Products and Services

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Presentation transcript:

Develop Effective Products and Services Chapter 10-2

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.

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

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

Research Studies Surveys Focus Group Observation Experiments

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

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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