Saturday, 29 March 2014

1273539-Gurbir Singh Sidhu-F1-Q23 Comment on Products strategy and design in the present scenario

Introduction

Product design is the creation of objects of utilitarian value to people. The Product Design involves an understanding of materials, processes, ergonomics, human behaviour and systems. The various product strategies are Product-Positioning, Product-Repositioning, Product-Overlap, Product Scope, Product-Design, Product Elimination, New Product, Diversification, Value-Marketing.

Discussion

Product Strategy

Core productthis is the end benefit for the buyer and answers the question: What is the buyer really buying? For example, the buyer of a car is buying a means of transport, the buyer of an aspirin is buying pain relief and the buyer of financial advice is hoping to buy financial security and peace of mind.
Formal productthis is the actual physical or perceived characteristics of your product including its level of quality, special features, styling, branding and packaging.

Augmented productthe support items that complete your total product offering such as after-sales service, warranty, delivery and installation.

Product Design

Innovation provides much of the competitive impetus for the development of new products, with new technology often requiring a new design interpretation. It only takes one manufacturer to create a new product paradigm to force the rest of the industry to catch up - fuelling further innovation. Products designed to benefit people of all ages and abilities—without penalty to any group—accommodate our swelling aging population by extending independence and supporting the changing physical and sensory needs we all encounter as we grow older.

Conclusion

Product designers need to consider all of the details: the ways people use and abuse objects, faulty products, errors made in the design process, and the desirable ways in which people wish they could use objects. Many new designs will fail and many won't even make it to market. Some designs eventually become obsolete.

Choosing and implementing your product positioning strategy is an important task. You need to determine your product’s competitive advantages (i.e.: what sets it apart from its competitors) and then based on this information, decide how to position your offering in the market. Quality, features, design, branding, packaging, labelling and service all affect the way your product is positioned. 


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