3. PRODUCT POLICY
IMPORTANCE OF PRODUCT POLICY
• MAIN COMPONENT OF MARKETING MIX
• NO PRODUCT NO BUSINESS
• INCLUDE PACKAGING AND TRADEMARK OF A PRODUCT
4. PRODUCT DEVELOPMENT
• NEW PRODUCT HAVE TO BE TESTED
• KNOWN AS TEST MARKETING
• R&D DEVELOP ONE OR MORE VERSION OF THE PRODUCT CONCEPT
5. PRODUCT DESIGN
• MUST BE CREATIVE, INNOVATIVE AND
INCLUDE TECHNOLOGY
• E.G AN ERROR THAT IS LATELY
FOUND IN A CAR MANUFACTURING IS
IRREVERSIBLE
• COULD RESULT IN HUGE FINANCIAL
LOSSES
• DESIGN OF NEW PRODUCT AIMED AT
• HIGH QUALITY
• ERROR FREE DESIGN
• DESIGN THAT DO NOT USE EXCESSIVE
RESOURCES
• WHICH WOULD RESULT IN VERY
EXPENSIVE PRODUCT
6. FIVE STEPS IN PRODUCT DESIGN
• DESIGN AND DEVELOPMENT OF PRODUCT IDEAS
• SELECTING AND SIFTING OF PRODUCT IDEAS TO FIND BEST SOLUTION
• DESIGN AND TESTING OF PRODUCT CONCEPT
• ANALYSING THE PROFITABILITY OF THE PRODUCT CONCEPT
• CONSUMER RESPONSE MUST BE TESTED, USING SMALL SAMPLE OF A PRODUCT
8. PACKAGING THE PRODUCT
• PACKAGING CAN INFLUENCE THE CUSTOMER WHETHER TO BUY OR NOT TO BUY
• IT GIVES AN IDEA WHERE THE PRODUCT COMES FROM
• TRADE NAME AND THE MASS OF THE PRODUCT
• IT PROTECT THE PRODUCT
• IT MUST BE CONVENIENT AND EASY TO HANDLE
• PRODUCT IS PROTECTED FROM THEFT AND HAMPERING
13. WHAT DID YOU UNDERSTAND ABOUT PRODUCT
POLICY????????
14. HOMEWORK ACTIVITY
IDENTIFY AND INVESTIGATE PRODUCT OF YOUR
CHOICE
• FIND ANY PRODUCT IN A NEWSPAPER, MAGAZINE OR INTERNET
• PASTE INTO YOUR NOTEBOOK
• ANSWER THE FOLLOWING QUESTIONS IN YOUR NOTEBOOK
- NAME THE PRODUCT AND THE MANUFACTURE THAT THESE TRADEMARK
REPRESENT 3 MARKS
- EXPLAIN THE TYPE OF PACKAGING. 2 MARKS
- IDENTIFY 5 STEPS THAT ARE FOLLOWED IN PRODUCT DESIGN. 5 MARKS
- RESEARCH AND FIND ANOTHER THREE S.A PRODUCT WHO ACCOMPLISH THE
SAME DESIGN SUCCESS. DISCUSS. 10 MARKS