Examples of augmented product in the following topics:
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- The four levels of a product include: core, tangible, augmented, and promised .
- The next level is the augmented product.
- This extra service is an integral part of the augmented product and a key to their success.
- In a world with many strong competitors and few unique products, the role of the augmented product is clearly increasing.
- The four levels of a product include: core, tangible, augmented, and promised.
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- All areas; the customer experience, how businesses market themselves and deliver their products and services, how consumers pay for their goods and services are changing with technology.
- Today's buying and selling of products or services are conducted over electronic systems on the Internet and via other computer networks.
- Sales analytics monitor client actions and preferences and augment sales forecasts and help measure the effectiveness of marketing campaigns.
- Automation is the use of machines, control systems and information technologies to optimize productivity of goods and the delivery of services.
- The incentive for applying automation is to increase productivity, and/or quality beyond what is possible with current human labor levels so as to realize economies of scale, and/or predictable quality levels.
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- The product mix breadth is five.
- What products will be offered (i.e., the breadth and depth of the product line)?
- You may also hear the product line breadth referred to as the product width, product assortment width, and merchandize breadth.
- The product mix (sometimes called "product assortment") is made up of both product lines and individual products.
- An individual product is a particular product within a product line.
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- How people satisfy their
desires is important to advertisers because our job is to convince consumers to
choose our product over the competitors’, right?
- Paraphrasing
Barton’s thesis: Machine made products have few appreciable differences, which makes it difficult for consumers to understand their individual value.
- Additional classes in research, statistics, and consumer behavior will help
augment your learning in this area.
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- Product development combined with product marketing make up the product management function within an organization.
- Product management is an organizational lifecycle function within a company dealing with the planning, forecasting, or marketing of a product or products at all stages of the product lifecycle.
- Product development – the process of bringing new products to the marketplace – combined with product marketing, make up the product management function that oversees the launch of a company's new products.
- A product manager investigates, selects, and develops one or more tangible products for an organization.
- However, product management also deals with intangible products, such as music, information, and services.
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- A firm employing a product orientation is chiefly concerned with the quality of its product.
- Similar to production orientation, the product orientation of marketing focuses solely on the product a company intends to sell.
- A firm employing a product orientation is chiefly concerned with the quality of its product.
- A firm such as this would assume that as long as its product was of a high standard, people would buy and consume the product.
- Consumers recognize product quality and differences in the performance of alternative products.
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- The unique characteristics of a product should be used as inputs in determining the product's marketing mix.
- The characteristics of the product are the features and elements that differentiate it from other products on the market.
- Product characteristics help determine the marketing mix, potential target market and the pricing of a product.
- Characteristics of a product also help to determine the price of a product.
- The characteristics of a product determine the target market and price of a product.
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- While the decision to modify products happens ideally at the design stage, products can be changed during any phase of the life cycle.
- The product life cycle (PLC) encompasses the multiple phases products pass through during their 'life' in the market.
- Stakeholders typically contribute input during product development, demanding something different from the product designer and design process.
- Other products are never re-introduced and deleted entirely from the product roadmap.
- While some products are completely new innovations, others are simply minor modifications to existing products.
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- Product development and product life cycles go hand-in-hand.
- The product life cycle (PLC) describes the life of a product in the market with respect to business/commercial costs and sales measures.
- Products have a limited life and, thus, every product has a life cycle.
- The product life cycle begins with the introduction stage (see ).
- A good product manager should find new products to replace those that are in the declining stage of their life cycles; learning how to manage products optimally as they move from one stage to the next.
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- The introduction stage of the product life cycle is when the marketing team emphasizes promotion and the product's initial distribution.
- Often the product will have little or no competitors at this point.
- In the growth stage of the product life cycle, the market has accepted the product and sales begin to increase.
- In the decline stage of the product life cycle, sales will begin to decline as the product reaches its saturation point.
- The market will see the product as old and no longer in demand.