Types
What type of product is usually bought by customers without having to think about it?
Convenience products
You are your own _______ .
What is one basis for product strategy?
Competition-based / Innovation-based
What type of product is insurance?
Unsought Products
You do not need to know who your target audience/customer is as long as your product is great. T/F
False. You can't make a great product without knowing who your customer is
What is another basis for product strategy?
Competition-based / Innovation based
What are the three types of consumer goods?
Durable, Non-durable, services
Describe what today's market is like
Answer based on response
What department are you supposed to go to in order to formulate or request for a recipe?
Research and Development
What are the 4 categories of consumer products?
Convenience, shopping, specialty, unsought
Why is it important to understand what the market is like and who your customers are when it comes to making a product?
Answer based on response.
Give an example of a product which you can launch based on the powerpoint.
Ketchup