topic 4

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    Created by
    Balatar, Lorejane L.

    Cards (47)

    • this is the process of creating and designing products so customers perceive them as different from competing products.
      product differentiation
    • three aspects of product differentiation
      product quality, product design and features, product support services
    • what is critical in differentiating products?
      customer perception
    • this refers to overall characteristics of a product that allow it to perform as expected in satisfying customer needs.
      product quality
    • consumer consider _ products to be reliable, etc
      high-quality
    • for business markets, _, _, and _ are important characteristics
      technical suitability, ease of repair, company reputation
    • which is the amount of quality a product possess when it is compared to other products
      level of quality
    • refers to the degree to which a product has the same level of quality over time
      consistency of quality
    • refers to how a product is conceived, planned and produced.it involves the total sum of all the product's physical characteristics
      product design
    • one of the best competitive advantages any brand can possess
      good design
    • the _ of the product is one design feature that can allow certain products to sell very rapidly.
      style
    • these are specific design characteristics that allow a product to perform certain tasks.
      product feature
    • 2 types of product design
      demand and invention
    • this happens when a product design can directly take advantage of an opportunity in the market

      demand / push innovation
    • occurs with an advancement in technology or intelligence.
      invention / pull innovation
    • factors affecting the product design (10)
      cost of production including material costs and labor costs, ergonomics, materials, customer requirements, company identity, aesthetics, fashion, culture, functions, environment
    • affect the pricing strategy which needs to be in line with what the customer is prepared for it
      cost of production including material costs and labor costs
    • the product needs to be user friendly and afford convenience in its function
      ergonomics
    • whether the requisite materials are available easily
      materials
    • it is vital to capture customer feedback on any prototype or in the planning process
      customer requirements
    • a product's design or color schemes and features may be determined by this identity.
      company identity
    • the product may need to appear stylish or of a certain shape
      aesthetics
    • current fashion trends can affect a product's design
      fashion
    • if a product is for a certain market with its own individual culture, this needs to be kept in mind during product design
      culture
    • the number of uses and functions a product has will impact its design
      functions
    • concerning the environment and its impact to it
      environment
    • (customer services) these include any human or mechanical efforts a companu provides
      product support services
    • refers to the decisions and activities intended to create and maintain in the minds of the customers and how it is distinguished from the products of the competitors
      positioning
    • three standard type of product positioning strategies
      comparative, differentiation, and segmentation
    • this work by placing products right next to other brands to highlight their competitive edge
      comparative
    • the uniqueness of the product can't be duplicated
      differentiation
    • sometimes, helping a product stand out requires focusing on multiple audiences with different needs, but with the same product
      segmentation
    • refers to the major change in positioning for the brand/product
      repositioning
    • _ involves changing target markets or the differential advantage or both.
      repositioning
    • it's not easy to effect such a repositioning because the _ and its _ do not change in any _ way
      company, products, substantive
    • firms use _ to help them develop a market positioning strategy for their product or service
      perceptual maps
    • these show where existing products and services are positioned in the market
      positioning / perceptual map
    • what are the 2 lines in perceptual maps?
      x and y axis
    • perceptual maps are based on _
      buyer's perception
    • is the process through which a product or an entire product line is removed from the product portfolio either through product elimination or product replacement
      product deletion
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