Product Planning & Development:
What is a Product ?
A Set of ‘Tangible Attributes’ collected in an ‘Identifiable Form’ which offers Benefits that Satisfy ‘Needs of the Customers’ is called a Product.
Any Change in a Product-Feature Creates a New-Product.
Classification of Products:
1) Consumer Products:
The Products purchased for the Personal & Household Needs are called Consumer Products.
a) Convenience Products:
The Consumers have enough knowledge about these Products & Purchase them with
Minimum efforts. e.g. Bread, Sweets & Confectionary, Cheese, Butter, Jam, Chocolates etc;
b) Shopping Products:
The Tangible Products for which Quality & Price are important. e.g. Autos, Electronics-Products, Furniture & Fixture etc;
c) Speciality Products:
The Tangible Products for which the Consumers have a Strong Brand-Preference,
are willing to Spend Time, Money & Efforts to get their Desired-Brands only. e.g.
Designers Suits, Healthcare & Food Products, etc;
d) Unsought Products:
The New Products that the Consumers are not Aware of or do not want them right now. e.g. Travelling Bags, Wallets, Cell Phone-New Set, etc;
2) Industrial Products:
These Products are Purchased for the Business-Purpose for the Resale, Re-brand, for Free Bonuses, for Production or for Services.
a) Raw Materials or Raw Form:
Become Part of any Product, Prior to being Processed.
b) Fabrication-Materials:
Become Part of Finished Product after being Processed.
c) Fabrication Parts:
Assembled with no further Processing. e.g. Zip, etc;
d) Installation:
Major Manufactured Equipment. e.g. Split Air Conditioner, Software to make it usable after Downloading, etc;
e) Accessory:
Not part of Finished Products, but only used in operation, or for additional Services or Facilities e.g. Computers, Iphones, Ipods, etc;
f) Operating Supplies:
Aid in Operations. e.g. Stationary, etc;
