DT Topic 10

How to determine different target audiences?

Gender, Age, Nationality, Financial, Size, Weight

How to make a product more likely to be bought?

Affordability, USP, Quality

Quality Assurance

Making sure the quality of the product meets expectations and is of good quality

Market penetration

Increasing sales of existing products to existing customers; by lowering prices / promotion / improving distribution

Market development

Introducing existing products to new markets; to increase sales / market share

Economically Viable Products

Cost effective/affordable. Consumer and as a manufacturer

Field Research

The collection of raw data outside a laboratory, library, or workplace setting.

JIT (Just in Time) Products

JIT (Just in Time) Products are only made when needed. Advantages are: waste reduction, improved efficiency and reduces obsolete inventory.

Disadvantages are: Difficult to forecast future demands, risk of supply chain disruption, unexpected price changes

JIC (Just in Case)

Products are made in larger quantities and sold when needed.

Advantages are: Less risk of lost sales, better supply rate, more marketing opportunities

Disadvantages are: Slowed growth, needs extra storage, cash flow challenges

Triple Bottom Line Sustainability:

a framework that focuses on three key aspects of performance - social, environmental and financial

Physio-Pleasure

The physical and the tactile, derived or enjoyed through the senses. It is smell, touch, feel, taste and sense