Chapter 10 - Developing new products and services. This chapter recognize the terms that pertain to products and services, identify the ways to classify consumer and business products, describe four unique elements of services, explain the significance of “newness” and “consumer learning” to new products and services. | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Recognize the various terms that pertain to products and services. LO1 Identify the ways in which consumer and business products can be classified. LO3 LO2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 10, YOU SHOULD BE ABLE TO: Explain the significance of “newness” in new products and services as it relates to the degree of consumer learning involved. Describe the factors contributing to the success or failure of a new product or service. Explain the purposes of each step of the new-product process. LO5 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 10, YOU SHOULD BE ABLE TO: LO4 APPLE’S NEW-PRODUCT INNOVATION MACHINE Apple’s Innovation Machine iCloud: Where the Digital Lifestyle is Heading APPLE’S NEW PRODUCTS Apple Macintosh image courtesy of Wikipedia. WHAT ARE PRODUCTS AND SERVICES? A LOOK AT GOODS, SERVICES, AND IDEAS LO1 Goods Services Nondurable Goods Durable Goods | McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Recognize the various terms that pertain to products and services. LO1 Identify the ways in which consumer and business products can be classified. LO3 LO2 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 10, YOU SHOULD BE ABLE TO: Explain the significance of “newness” in new products and services as it relates to the degree of consumer learning involved. Describe the factors contributing to the success or failure of a new product or service. Explain the purposes of each step of the new-product process. LO5 LEARNING OBJECTIVES (LO) AFTER READING CHAPTER 10, YOU SHOULD BE ABLE TO: LO4 APPLE’S NEW-PRODUCT INNOVATION MACHINE Apple’s Innovation Machine iCloud: Where the Digital Lifestyle is Heading APPLE’S NEW PRODUCTS Apple Macintosh image courtesy of Wikipedia. WHAT ARE PRODUCTS AND SERVICES? A LOOK AT GOODS, SERVICES, AND IDEAS LO1 Goods Services Nondurable Goods Durable Goods Products Ideas WHAT ARE PRODUCTS AND SERVICES? CLASSIFYING PRODUCTS LO2 Business Products Consumer Products WHAT ARE PRODUCTS AND SERVICES? CLASSIFYING PRODUCTS LO2 Consumer Products Convenience Products Shopping Products Specialty Products Unsought Products FIGURE 10-1 How a consumer product is classified affects which products consumers buy and the marketing strategies used WHAT ARE PRODUCTS AND SERVICES? CLASSIFYING PRODUCTS LO2 Business Products Components Support Products Derived Demand Supplies Industrial Services Installations Accessory Equipment Product Item Product Line Product Mix Stock Keeping Unit (SKU) WHAT ARE PRODUCTS AND SERVICES? PRODUCT ITEMS, LINES, AND MIXES LO2 Little Remedies How does a broad product line benefit both consumers and retailers? LO2 USING MARKETING DASHBOARDS Which States are Underperforming? Annual Percent Change in Unit Volume by State > 10% 0 to 10% NEW PRODUCTS AND WHY THEY SUCCEED OR .
