Development and managing of product

Reference no: EM133365537

Introduction

The focus of this unit is the creation, development and managing of product and/or service offerings. You will learn the product/service development process, the risks and rewards associated with the product/service development process, how consumers drive the process and how marketing executives manage the process. The importance of this unit cannot be overstated: in order to survive, businesses need to constantly and consistently meet the needs and expectations of consumers.

In the reading for week four, you will learn how products/services (generically called offerings) are created, developed and managed. Chapter Six discusses what comprises an offering, the different types of offerings, how offerings are branded, labeled and packaged and who within the company hierarchy is responsible for these activities. Chapter Seven discusses what is involved in developing new offerings and how those offerings can be managed effectively. The new offering development process is discussed in detail, from idea generation through evaluation. Then, the product life cycle and strategies for maximizing profits at each stage are covered.

Written Assignment

Explain the four types of consumer offerings and how they differ from one another. Give examples of products/services that you have purchased from each category.

Prepare a two page (double-spaced) essay. Cite references to material that you use in preparing the essay.

Reference no: EM133365537

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