Product

a brand that most are not so familiar with (e.g. avoid brands that are popular or in the news and social media constantly). What are the key product features or qualities that define the brand? Discuss the brands personality. A brand is a type of product that is made by a manufacturer and is given a specific name. Another word, a brand is a specific product or service that offered by a specific source. There are millions brands out there and most are trademarked, such as Apple, Coca-Cola, Cisco,…

What is Gross Domestic Product (GDP)? It is defined as, ‘The value of a country’s overall output of goods and services at market prices, excluding net income from abroad.’ There are three ways it can be estimated, expenditure basis-the amount of money spent, output basis-the amount of goods and services sold, and income basis-the amount of money earned. The estimates are published on a quarterly basis. (GDP 2016) The most common way the gross domestic product is expressed, as a comparison to…

An economy can usually be understood and judged on efficiency through a number of different statistics, one of these is the GDP or the Gross Domestic Product. The Gross Domestic Product is the sum of four different components: Consumption, Investment (business and personal), Government Purchases, and Net Exports. The anticipated cost of living in an apartment will eventually prevent people from moving out. This is because with a shortness in the labor force the supply for apartments goes down so…

Product-Harm Crisis – Toyota Case Study Meaning of product-harm crisis. One may characterize a product-harm crisis as an abundantly revealed episode of a product deficiency, unhygienic, injurious to patrons, and “costly” to organizations (Cleeren, Heerde, & Dekimpe, 2013, p. 58). Cleeren et al. (2013) found a product-harm crisis more often than not impacts the whole manufactured category type of goods. This situation elicits a stern adrift sales and product recall. In the same pursuit, the…

The product life cycle “describes the stages a really new product idea goes through from beginning to end” (Perreault, Cannon, & McCarthy, 2009). It is important for marketers to be aware of the stages of the product life cycle in order to strategize accordingly. If marketers fail to adjust their marketing mix and marketing strategies to adhere to the life cycle stage of their product, they run the risk of failure. “The product life cycle has four very clearly defined stages, each with its own…

The basic product is the services provided in the examination and subsequent repair of a customer’s asset. The core benefit of this product is peace of mind that the service has be carried out by competent technicians. This service is intangible and inseparable (Kotler, et al., 2013, p. 417), even though it is tied to a physical product (Kotler, et al., 2013, p. 452). As a result the service can vary from customer to customer (Kotler, et al., 2013, p. 417). The original equipment manufacturers…

Contract Manufacturers Are Helping the New Breed of Product Managers Many organizations are facing the fact that it is better to disrupt yourself, rather than have someone do it for you. In today’s technology driven world, this adage could not be more true. This is why the new breed of product managers must focus outwards and leverage external partners and providers to ultimately be successful. Product managers need to have a partner that can cut through the noise from not just a technology…

Gross Domestic Product (GDP) The Gross Domestic Product (GDP) is the market value of all final goods and services produces within a country in a given period of time (Mankiw,2015). It looks at how the economy is doing. Author N. Gregory Mankiw uses an example of judging a person by seeing how a person lives. What kind of home he/she has, how much money is he/she making? This is similar to what GDP does for the economy. It judges how well the economy is doing. GDP is divided into four…

Gross Domestic Product Gross Domestic Product (GDP) is a metric produced by the Bureau of Economic Analysis, and used for classifying and quantifying the financial well-being of nations. It seems GDP is the gold standard for measuring success of the world’s economies, but is it enough? One might question the attributes of success and determine the need for a more comprehensive tool. Mankiw (2015), defines GDP as “the market value of all final goods and services produced within a country in a…

Product Life Cycle With intense global competition companies are constantly trying to keep up with the growing market. They do this by promoting and developing new products continuously. Every product that has been developed and entered the market has a product life cycle. This cycle represents where exactly the product stands within the market. This life cycle has a total of five stages: the introductory, growth, competitive turbulence, maturity, and decline stage. During the introductory…