Studied by 6 people
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
Note 
Flashcard (81)