3. CONTENT
1. CLASSIFICATION OF PRODUCTS
2. PRODUCT LIFE CYCLE
3. STAGES OF PLC
4. NEW PRODUCT DEVELOPMENT
5. STAGES IN NEW PRODUCT DEVELOPMENT
6. 4 U’s by MICHAEL SKOK
7. TYPES OF NEW PRODUCT DEVELOPMENT
5. Product Classification
It can be done in a variety of perspectives i.e.
1. Consumer-Goods Classification
Classified on the basis of shopping habits
2. Durability and Tangibility
3. Industrial-Goods Classification
Classified in terms of their relative cost and how they enter the
production process.