Summary of Product Characteristics and Classifications

CHAPTER 12 ::: SETTING PRODUCT STRATEGY SUMMARY ::: Product Characteristics and Classifications Product Levels: The Customer Value Hierarchy The marketer needs to address five product levels. Each level adds more customer value, and five constitute a Customer value hierarchy. Core benefit: It is the fundamental level. It is the benefit the customer is really buying. Basic product: The marketer has to turn the core benefit in to the basic product. Expected product: A set of attributes and conditions buyers normally expect when they purchase this product. Augmented product: The product that exceeds customer expectations. Potential product: It encompasses all the possible augmentations and transformations the product or offering might†¦show more content†¦Ã¢â‚¬ ¢ The consistency of the product mix refers to how closely relate the various product lines are in end use, production requirements, distribution channels, or some other way. Product-Line analysis: Companies normally develop a basic platform and modules that can be added to meet different customer requirements. This modular approach enables the company to offer variety while lowering production costs. Product line managers need to know the sales and profits of each item in their line in order to determine which items to build, maintain, harvest, or divest. They also need to understand each product line’s market profile. Sales and Profits: Every company’s product portfolio contains products with different margins. A company can classify its products into four types that yield different gross margins depending on sales volume and promotion. They are core product, staples, specialties, convenience items. Market Profile: The product line manger must review how the line is positioned against competitor’s lines. The product map must be developed which reveals possible locations for new items. It also identifies market segments. Product line analysis provides information for two key decision areas—product-line length and product-mix pricing. Product-Line Length: Companies seeking high market share and market growth will generally carry longer product lines. Companies that emphasize high profitability will carryShow MoreRelatedBusiness report for Qantas1564 Words   |  7 Pages 1. Executive Summary: The main focus of this report is to identify the legal classification, the characteristics, the life cycle stage of Qantas and one internal and external stakeholder that is affected by the activates of Qantas. The legal classification describes that Qantas is a public company and has changed its legal classification in the growth and maturity stages of the business life cycle. The characteristics of Qantas talks about the companys industrial classification and sector classificationRead MorePharmaceutical Care Plan - Cap1171 Words   |  5 Pagesessential when deciding on the management of all patients with CAP; however doctors may both overestimate and underestimate the severity of CAP, leading to inappropriate treatment. Severity scores may overcome these difficulties by providing objective classiï ¬ cation of patients into low, intermediate and high risk categories based on robust, validated markers of poor outcome, therefore a severity-based approach to management in community- acquired pneumonia is recommended. The most widely used scores are CURB65Read More Product Layouts and Group Technologies Essay1164 Words   |  5 PagesProduct Layouts and Group Technologies In today’s world of operations management, layouts of manufacturing processes play a key role in achieving and maintaining long term goals. These layouts need to be well thought out and carefully planned for they can effect the cost or producing goods and delivering services for many years into the future. Layouts are dependent on the technology utilized and product type manufactured. There are four typical layouts: process layout, product layout, fixedRead MoreHEARTS R US Essay1482 Words   |  6 PagesCase 13-3: Summary: This case is about a company named Hearts ‘R Us. This company provides research and development for medical devices. According to the information provided the company is in its early stage and has no products in the market. They have developed a Heart Valve System that would be revolutionary in the market if is approved. Also there’s another company called Bionic Body that is a biological medical device company, they have another product that would work well with this newRead MoreKey Issuses And Potential Solutions For Toxic Waste Disposals1596 Words   |  7 PagesAbbas Ontario Ministry of Toxic Waste Disposals Dr. Rezaul Karim Ontario Ministry of Toxic Waste Disposals Government of Ontario April 17, 2017 Table of Contents 1 Introduction †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.1 2 Classification of Solid waste †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.1 2.1 Disposal Methods †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦...†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.1 2.2 Landfills †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 3 Methods to Reduce Waste †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦..†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Read MoreMarketing Information System1318 Words   |  6 Pagesanalyze, evaluate and distribute needed, timely, and accurate information to marketing decision makers. †¢ Function: Assess, Develop and Distribute Information. Marketing Information System [pic] Functions of a MIS: [pic] Characteristics of MIS âž ¢ Management oriented âž ¢ Management directed âž ¢ Integrated âž ¢ Common data flows âž ¢ Heavy element âž ¢ Flexibility and ease of use Benefits of MIS †¢ Customer profiles need to be maintained focusing on theirRead MoreFactors Affecting Marketing Environment1418 Words   |  6 Pagesdecisions. For example, research and development have input as to the features a product can perform and accounting approves the financial side of marketing plans and budgets. Suppliers An important aspect of the microenvironment because even the slightest delay in receiving supplies can result in customer dissatisfaction. Marketing managers must watch supply availability and other trends dealing with suppliers to ensure that product will be delivered to customers in the time frame required in order to maintainRead MoreThe Impact of Contingencies on Management Accounting System Development.1725 Words   |  7 Pages4 ( v ) Business unit, firm, and industry variables 5 ( vi ) Knowledge and observables factors 5 ( vii ) Culture 6 4.0 Summary and Conclusions 6 5.0 REFERENCE BOOKs 7 1.0 INTRODUCTION The management of a company needs to develop cost and management accounting systems which will provide adequate information about main impacts on cost characteristics and companies performance. The cost and management accounting practices of the companies can be described by the traditions and necessityRead MoreProduct Complexity As The Dark Side Of Financial Innovation : Business Analysis1457 Words   |  6 PagesRecently, there is a growing literature base which reveals the fact that product complexity as the dark side of financial innovation does harm consumers’ benefits. Henderson and Pearson (2011) use empirical analysis to show that in the U.S. market, the most popular structured equity products, which are supposed to meet the hedging needs of investors, actually have large premiums and lower expected returns than the risk-free rate. They go on to suggest that when financial institutions realise thatRead MoreEssay On Linear Matrix1463 Words   |  6 Pagesoptimization of SpMV on high performance machines such as GPU are research hotspots. However, there are many challenges of compute SpMV such as the scales and features of such matrices which are usually very large and sparse and may have various sparse characteristics. In addition, to the matrix representation issue, due to the irregularities of such matrices there is no standard storage format ideal for all types of sparse matrices. Thus, there are a variety of sparse matrix storage formats designed to exploit