MGMA01H3 Study Guide - Final Guide: Rutherford B. Hayes, Sales Operations, Switching Barriers
Document Summary
A set of tangible and intangible attributes, including packaging, colour, price, quality, brand name, and seller"s services and reputation. Can be a physical object, service, person, place, organization, idea, or a combination of these. Products are not physical entities so much as anticipated benefits in the minds of the consumers . New product development process: the future is hard to forecast. There is no reason anyone would want a computer in their home. Ken olson, chairman and founder of dec, 1977. That"s an amazing invention, but who would ever want to use one of them? . Us president rutherford hayes, 1876, on the telephone. Everything that can be invented has been invented. Charles duell, commissioner, us office of patents, 1899. Process by which new products spread through a population. Rate of adoption and diffusion depends upon the risk-taking" ability of individuals. People who buy early tend to influence those who follow them.
