Individual Product Choice: The Three Ways Of Product Decision

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Product decision
Individual product decision, product line decision and product mix decision are three ways of product decision.
A.) The Individual Product Decision
Individual product decision include five part about decision making about product. These parts are product attributes, branding, packaging, labeling, product support services.
1.) Product attributes
Product attributes mean specialty to product in terms of different ways such as product quality, design, features. These ways play critical role about product sales and positive feedback from customer. High quality products satisfy to customer. Customers never want to low quality product, they want to more than money’s worth. Product attributes are important for keeping alive in competitive …show more content…

Brand give information to customer about product. When customers purchase a product, they compare the product with others that in same category and generally brand name is the most effective factor to choose one of them. Brand tells everything about product in terms of quality , features generally. According to Fabrice Larceneux & Florence Benoit-Moreau & Valérie Renaudin, they said that: “We investigate the marginal value of an organic label that appears in combination with a brand, including whether that value varies for brands with high versus low equity. When a brand enjoys high brand equity, consumers feel confident that they know and can trust its product characteristics, so they may consider the organic label less useful.”(2012, p. 86)
3.)Packaging
Packaging means designing the container or wrapper for a product simply. However packaging is not simply like its definition and playing important role in product decision. Good packaging represent good result for firm. Interesting designing package can create majority with competitors. Firm have to attention safety, environmental concern and concept of product when they designing package.
3.) …show more content…

It includes all the products that are sold by a company. Product mix dividend to four ways such as width, length, depth, consistency. Firms can combine own existing resources by this means improve firm’s ability to enter market and profit. Firms should be careful on mix decision because failure mix decision yield to increasing on cost.

Reference
Larceneux, F., Benoit-moreau, F., & Renaudin, V. (2012). Why might organic labels fail to influence consumer choices? marginal labelling and brand equity effects. Journal of Consumer Policy, 35(1), 85-104. doi: http://0-dx.doi.org.divit.library.itu.edu.tr/10.1007/s10603-011-9186-1
Netessine, S., & Taylor, T. A. (2007). Product line design and production technology. Marketing Science, 26(1), 101-117. Retrieved from http://160.75.22.2/docview/212252130?accountid=11638
Krishnan, R. A., Joshi, S., & Krishnan, H. (2004). THE INFLUENCE OF MERGERS ON FIRMS' PRODUCT-MIX STRATEGIES. Strategic Management Journal, 25(6), 587-587+. Retrieved from http://160.75.22.2/docview/225017236?accountid=11638
Lele, M. M., & Karmarkar, U. S. (1983, Nov). Good product support is smart marketing. Harvard Business Review, 61, 124. Retrieved from

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