Text 1: product importance

The problem of adopting products to markets is a continuous one. There must be a constant monitoring of consumer wants and needs because consumers change over the time and seek variety in their choices.

Nowhere is the problem of consumer choice more keenly felt than in the fast - food business. Researchers also monitor grocery stores shelves and cookbooks for new ideas. Product development, then, is a key activity in any modern business.

Text 2: what is a product?

From a marketing viewpoint a product is not just the physical good or service. A product consists of all the tangibles and intangibles that consumers evaluate when deciding whether or not to buy something. Thus a product is a washing machine, car, or bottle of beer, but the product also consists of:

• the price

• the package

• the store surroundings

• the image created by advertising

• the guarantee

• the reputation of the producer

• the brand name

• the service

• the buyers' past experience

When people buy a product, they evaluate all these things and compare products in all these dimensions.

Text 3: different product views

Most people tend to think of products as tangible goods that can be seen and felt. They also tend to view products as what producers make in a factory.

What is the product of an automobile manufacturer? It could be good mileage (compact cars), luxury (full-size Cadillacs), sportiness (convertibles) speed, or safety or some combination of these features. Still the product isn't what the manufacturer puts into the car ; the product is the perception of these features by consumers. In conclusion, we can say the following about the products:

• There often is a difference between the product as viewed from the perspective of the seller and as viewed by the buyer.

• Successful sellers design their products based on the needs of the buyer; those needs are determined through marketing research.

• A buyer evaluates a product by comparing many dimensions, including price, quality, convenience, safety, and satisfaction in use.

• A product is what a person perceives it be.

Text 4: the product mix

A product mix is the combination of products offered by a manufacturer. In the case of automobile manufacturers, the product mix consists of everything from automobiles to mini vans, small trucks, large tractor trailers, and, tanks.

A product line is group of products that are physically similar or are intended for a similar market. In automobiles, one company's product line for passenger cars may include large luxury cars, midsize cars, compact cars, mini vans, and station wagons. They are all part of the product line.

Manufacturers must decide what product mix is best. The mix may include both goods and services to spread the risk among several industries. Product line decisions are also important. Carrying too many different products can be inefficient. Carrying too few products in the line may also be a poor strategy because you may attract more customers with a full line of products than a reduced line. For example, a store that sells a full line of appliances is more attractive to shoppers than a store that carries just a couple of models.