Examples of product in the following topics:
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- Productivity is a measure of production efficiency, and its level has major impacts on overall economic performance.
- Based on these changes in productivity and production volume values, we can explicitly locate the production on the production.
- The first is called "increasing returns" and occurs when productivity and production volume increase or when productivity and production volume decrease.
- Another productivity measure is known as multi-factor productivity (MFP).
- Growth in income due to production are due to an increase in production volume or an increase in productivity.
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- As such, the manager must find new products to replace those that are in the declining stage of the product lifecycle and learn how to manage products optimally as they move from one stage to the next.
- Product development: the period during which new product ideas are generated, operationalized, and tested prior to commercialization.
- Introduction: the period during which a new product is introduced.
- Whether one accepts the S-shaped curve as a valid product-sales pattern or as a pattern that holds only for some products (but not for others), the product lifecycle concept can still be very useful.
- This process begins with product development and ends with the deletion (discontinuation) of the product.
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- Although consumer products are more familiar to most individuals, business and industrial goods represent very important product categories as well.
- A useful way to divide extractive products is into farm products and natural products, since they are marketed in slightly different ways.
- Although these products do not contribute directly to the physical product, they do aid in the production process.
- Supplies and service do not enter the finished product at all, but are nevertheless consumed in conjunction with making the product.
- These products are normally purchased as convenience products with a minimum of effort and evaluation.
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- Productivity, or the efficiency of production, is important because it can drive increases in output and improvements in living standards.
- Productivity is a measure of the efficiency of production.
- Productivity is a ratio of production output to what is required to produce it (inputs).
- In explaining and operationalizing, a set of production models are used.
- A production model is a numerical expression of the production process that is based on production data (i.e., measured data in the form of prices and quantities of inputs and outputs0.
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- Both involve the comparison of a potential product idea against criteria of acceptable new products.
- For example, new product ideas can be rated on a scale ranging from very good to poor by such criteria as value added, sales volume, patent protection and affect on present products.
- A second technique goes beyond the first, in which criteria are assigned importance weights, with products rated on a point scale measuring product compatibility.
- Will the customer in the target market benefit from the product?
- What is the current or expected competitive pressure for the product idea?
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- Product lining is the marketing strategy of offering several related products for sale as individual units.
- Product lining is the marketing strategy of offering several related products for sale as individual units.
- A product line can comprise related products of various sizes, types, colors, qualities, or prices.
- The total number of products sold in all lines is referred to as length of product mix.
- Product proliferation: The introduction of new varieties of the initial product or products that are similar.
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- Because of the vast quantities of materials and energy that many products and services require, not to mention the huge amounts of waste they produce while they're being manufactured, making products and services more efficient (and more efficiently) is crucial to reducing the costs of running a sustainable business.
- To be sure, redesigning products and the methods used to make them is time-consuming and arduous; however, many practitioners attest that it is also one of the most financially rewarding.
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- Reusing products and their materials is a win–win situation for all involved.
- From a customer's standpoint, reusing a product decreases waste, reduces disposal costs, and lowers the expense of purchasing replacements.
- At some point, however, a product or its parts may undergo too much wear and tear and be deemed unsuitable in a reuse application.
- This does not mean that the product or its parts have reached the end of their useful life.
- In many cases, products can be broken down into base materials or components in order to be used again for the same or other applications.
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- Developing products involves multiple steps and an in-depth analysis of your customer base.
- Developing products involves following a series of steps, or a system, to reach the end goal.
- When developing products, it is important for management to recognize that a great many new products fail.
- The Nintendo Wii is an example of a recent new product brought to market.
- Explain how to determine product pricing on a newly developed product
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- The two most commonly used methods of classifying products are: (1) Consumer goods versus industrial goods, and (2) goods products (i.e., durables and non-durables) versus service products.
- The traditional classification of products is to dichotomize all products as being either consumer goods or industrial goods.
- Although consumer products are more familiar to most readers, industrial goods represent a very important product category.
- Like goods products, service products are quite heterogeneous.
- It should be noted that these four characteristics associated with service products vary in intensity from product to product.