1University of Technical Education University of Sunderland HO CHI MINH CITY 200Cha!ter "2OUT#INE$% &efinition 2% 'evie(in) the !roduct *% The !roduct life cycle +,#C- .% ,roduct ran)e/% 0randin)3$% &E1INITIONA product is something that satisfies a set of wants that customers have. When you buy a setofwineglasses,forexample,youare buying them because you want to drink wine and you prefer not to do so straight from the bottle.oumayalsowanttoimpressyour dinner guests with your taste, and choose to do so by possessing a particularly fine set of wine glasses.!ProductTangible attributesIntangible attributes"Core !roduct !roduct au)2entation&efinitionAugmentation#thebuildingupof benefits on the core product to increase theattractivenessandsatisfaction factors for the consumer.$%roduct classification%roduct classification&onsumer goods&onsumer goods'ndustrial goods'ndustrial goods(&onsumer goods&onvenience goods)hopping goods)peciality goods*nsought goods+'ndustrial goods'nstallationsAccessories,aw material&omponent)uppliers-2% 'evie(in) the !roduct,roduct Mi3*ni.ue selling proposition /*)%01randing, packaging%roduct life cycle /%2&01oston consulting 3roup 4atrix5ew product development%roduct range6eatures, advantages and benefit /6A1017*% The !roduct life cycle +,#C-%roduct life cycle comprises four stages#18 'ntroduction stage28 3rowth stage38 4aturity stage!8 9ecline stage11S4#ESTIME'ntroduction3rowth4aturity9ecline,roduct #ife Cycle +,#C-12,roduct life cycle 2odelSales +5-Ti2e'ntroduction 3rowth 4aturity9eclineO 2ow sales :igh cost per customer 6inancial losses 'nnovative customers 6ew /if any0 competitors 'ncreasing sales &ost per customer falls %rofits rise 'ncreasing no of customers 4ore competitors %eak sales &ost per customer lowest %rofits high 4ass market )table number of competitors 6alling sales &ost per customer low %rofits fall &ustomer base contracts 5umber of competitors falls;ake8off)hake8out)aturation13.% ,roduct 'an)e9efinition#,ange# the number or scale of choice of the products or services offered by a supplier ,roduct 4 ,roduct 0 ,roduct C ,roduct &4arket 14arket 24arket 34arket !