what would you sell? what products do you think should be sold through the spirit box? implementing...

WHAT WOULD YOU SELL?

What products do you think should be sold through the Spirit Box?

IMPLEMENTING AUTOMATED RETAIL: PRODUCT

PRODUCTA good, service, or idea that is created as a result of a process and satisfies a want or need.

o Products can be goods or services:• Goods are tangible • Services are intangible


FEATURES & BENEFITS

• Features are attributes of a product.

• Benefits are the advantage or value of that attribute to the customer.


EXAMPLE


PRODUCT DEVELOPMENT

The creation of products with new or different characteristics that offer new or additional benefits to the customer.


CREATING NEW PRODUCTS• Developing a new, innovative or original

idea to fulfill customer needs or wants. • Products with different characteristics

involves modifying or changing an existing product to meet a need or want of the target market.


CHECK POINT

• Explain Target Market.

• Why are new products based around customer needs/wants?


PRODUCT DEVELOPMENT &AUTOMATED RETAILING

What things might be different in automated retailing from traditional

product development?


CASE STUDY

“ZoomShops Taking Flight in Airports and Beyond”


PRODUCT OPPORTUNITIES• Product Opportunity Gap “POG”—occur when

there’s a gap between what is currently offered in the market and the opportunity for new or modified products as a result of emerging trends.o Products successfully fill this gap when they

meet customer expectations and are perceived as useful and desirable.


EXAMPLE


IDENTIFYING PRODUCT OPPORTUNITIES

1. Conduct market research to identify need or gap.

2. Evaluate the current market.3. Identify the current problem.4. Determine how to solve the problem.


ACTIVITY

Identify a product opportunity gap for the automated kiosk (Spirit Box).


TECHNIQUES TO GENERATE PRODUCT IDEAS

1. Involve everyone in generating ideas 2. Involve customers in the process3. Involve customers in new ways4. Involve new customer groups5. Involve suppliers


ACTIVITY

Develop a template for an online suggestion box for SBE employees and a template for an

online discussion board for customers.


ACTIVITYRevise your automated retail product selection list from the Bell Ringer based on the information from this lesson. Identify the criteria by which you selected those products. Fill in your products on the plan-o-gram.


QUIZ

Concept of Product and Product Development in Automated Retail


what would you sell? what products do you think should be sold through the spirit box? implementing...

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