1. Develop Effective Products and Services
Chapter 10-2

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.

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

4. 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

5. Research Studies
Surveys
Focus Group
Observation
Experiments

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

7. Product Planning Procedures
Idea Development
Idea Screening
Strategy Development
Production and Financial Planning
Limited Production and Test Marketing
Full-scale Production