This presentation helps the beginner to build insight about the 2P's (Price & Product) out of the 4 Marketing P's (which are Product, Price, Place, & Promotion)
5. The Product Continuum Products contain both tangible & Intangible components; predominantly tangible products are categorized as goods. Whereas predominantly intangible products are categorized as service Tangible Dominant Intangible Dominant GOODS IDEAL SERVICES Education Automobile Fast Food Cruise Consulting Insurance Salt Shoes VCR
6.
7.
8.
9.
10. The Product Life Cycle most products & product categories move through a life cycle similar to the one represented by the curve in this diagram. However, the duration of each stage varies widely from product to product Sales Volume (units) Introduction Growth Maturity Decline Sales Time 0 Profits Internet VCR Cassette tapes DVD players
11.
12.
13.
14.
15.
16.
17.
18. Process Development Process for every hundred ideas generated, only one or two salable products may emerge from the lengthy & expensive process of product development 1 idea commercialization Test Marketing Prototype Development Business Analysis Screening of Ideas 1 00 ideas
