Session 10 Product, Service and Product Development

Time required: 2 hours
Objectives & Requirements
　　Be aware of
　　• basic concepts of product and service
　　• product strategies concerning coordinated decisions on product items, product lines, and the product mix
　　• the characteristics and marketing considerations for services
　　• how new products and services are developed.
　　• the process of new product development
Essential Concepts
　　• three levels of product: core product, actual product, and augmented product
　　• ways of classification
　　• product items, product lines, and the product mix
　　• individual product decisions on product attributes, packaging, etc.
　　• services marketing
　　• four service characteristics
　　　( service intangibility, service inseparability, service variability, service perishability)
　　• eight stages in the new-product development process
　　• idea generation, idea screening, concept development and testing
　　• test marketing
Text Chapters and Supplementary Materials
　　Chapter 8,9. Kotler & Armstrong, Principles of Marketing 9th ed.
　　References at the end of the chapters, and in the Course Syllabus
Exercises and Discussion
　　Marketing Applications: Question 1 (a – f)
　　Issues for Discussion:
　　1. List and explain the “core, actual, and augmented products” of the educational experience that universities offer. How are they different, if at all, from the “product” offered by junior colleges?
　　2. Get the profile of Lihua Fastfood, Ltd. on its website, and analyze its business model with the theory about service.
　　3. To get perception from its target market, which way of test marketing is best for a brand-new product such as the flea remover for pets?
Case Analysis：
　　《桑普太阳能案例》（《当代营销学案例集》）

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