Product optimization involves making minor adjustments to existing products to increase desirability and marketing metrics like purchase intent. It can lower manufacturing costs and make products more profitable by optimizing components, materials, design, and production processes. Companies should understand customer needs and market trends to develop innovative, high-quality products that solve customer problems at lower total costs than competitors.

1. PRODUCTION OPTIMIZATION
PRESENTED BY
SANJITH.S
22BA049

2. Definition
• its is the practice of making changes or adjustments to a product to make it
more desirable
• it is possible to optimize a product by making minor adjustments
• typically the goal is to make the product more desirable and to increase
marketing metrics such as purchase intent,believability,frequency of
purchase,etc

3. Beneficial for Companies
• cost of manufacutring will drop
• more desirable
• more profitable
• make more no of products
• compete with competitors

4. Concept of Product Optimization and Testing
• the ability to develop and launch new product successfully and quickly is key
to business. the no one success factor is product superiority.
• a superior product is comprised of six items
• offering unique features not available in competitive products
• meeting customer needs better than competitive products
• having higher relative product quality
• solving a problem the customer has with a competitive product
• reducing the customer’s total costs- high value is use
• being innovative the first of their kind in market

5. Company can helped by Product Optimization
• first understand your consumer and market trends
• smart idea development
• product design
• product/service positioning and optimization
• product/service assessment
• retail trends
• innovation roadmap

6. Manufacturing and Production Cost Reduction
• component optimization
• material optimization
• design optimization
• manufacturing process optimization
• contract manufacturer selection

7. conclusion
• product optimization is the process of making changes and adjustments in an
existing product for making it more desirable ,cost effective, profitablilty.
• it begins with the idea how to make it innovative for the market,the watching
the customers.
• make some changes and then see the place where we can launch the
product.