The product is the most important part of the marketing mix. Before starting production, it is necessary to conduct market research. This will allow you to find out the expectations of consumers and release a demanded product.
Instructions
Step 1
In marketing, a product can be viewed from two sides. On the one hand, it is a means by which the consumer can satisfy his needs. On the other hand, a product is a product to be sold.
Step 2
Anything that can satisfy a need or need can be called a product. These are services, labor, physical objects. A product in marketing includes a set of properties that are significant for the consumer. It can be prestige, packaging, value for money.
Step 3
If we consider such a concept from the point of view of marketing, the buyer purchases not the product itself, but the benefits that it provides. The main characteristics of the product include: reliability, durability, functionality, design, ergonomic abilities, prestige.
Step 4
There are several product classifications. According to their purpose, they are divided into exchange, consumer demand and industrial purposes. According to the terms of use, goods can be of short-term and long-term use. By the degree of processing and the nature of consumption: finished products, components, semi-finished products and raw materials.
Step 5
According to their purpose and purpose, goods are classified into: luxury goods, prestigious goods, goods of selective demand and everyday demand. According to the manufacturing method, standard and unique products can be distinguished. Services can be domestic, social and business.
Step 6
Before releasing a product, an enterprise must study the products of competitors and understand for what reasons customers purchase them. The company needs to conduct a comprehensive marketing research. This will allow you to better understand the situation on the market.
Step 7
In addition, the company must answer a number of questions: who will be the main consumer of the product, what is the market capacity, will seasonality affect sales? It is also necessary to think about the reaction of competing companies to the release of goods, to choose distribution channels. It is important to understand whether the production of a given product will strengthen the company's reputation and what the product lifecycle will be.
Step 8
When a new product enters the market, consumers begin to form an attitude towards it. The perception process consists of five stages.
First, the consumer gets a general superficial knowledge of a new product, then shows interest in the product - he starts looking for information about the product.
Step 9
At the third stage, the consumer decides whether to use this product or not. At the fourth stage, the buyer purchases the product and makes a sample. The final stage is the delivery of a product verdict. The consumer decides whether he will use the product or not.
