Your products may sometimes fail your customers. If you do not venture, you will always fail your customers. As more brands enter the marketplace, winning and holding customer becomes more difficult & there are risks involved with making product adjustment i.e. changing price may price some buyers out or changing the features may dissuade some customers from continuing to buy the product.
As such its integral to understand what is our product (3 levels), understand our product mix & depth in relations to our competition.
This video is an introduction to the various aspects, however for a better understanding please check out the links from the "Additional Reading" section below and continue on your learning journey.
Note: Videos have been made with international students in mind, as such if your finding the speed of speech slow, please increase playback speed to 1.25 in YouTube.
I hope the video takes you beyond the definition & helps to make the learning process a little more tangible. Please subscribe & feel free to share.
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Video Content
0:00 - Introduction to Product Items, Product Lines & Product Mixes
0:17 - What are Unsought Products?
0:48 - Example Game Changer The Apple iPod
1:38 - What are Product Items & Product Lines?
1:56 - Product Items & Product Lines Example
3:00 - What is Product Mix?
3:11 - What is Product Mix Width?
3:20 - What is Product Line Depth?
3:30 - Product Mix Width Example
4:36 - What is Product Quality Modification?
5:17 - What is Product Functional Modification?
5:56 - What is Product Style Modification?
7:17 - What is Product Obsolescence?
9:05 - What is Product Repositioning
Example
10:51 - What is Product Line Extension & Contraction?
- Quiz Questions throughout the video
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Came across a great saying about innovation:
"It's easy to come up with new ideas; the hard part is letting go of what worked for you two years ago, but will soon be out of date." - Roger von Oech
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School of Learning
Arnav Dutta
[ Ссылка ]
