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Learning Intentions • Students will be able to: • Describe the ‘Product’ stage of the ‘4 Ps’ of marketing and evaluate current products with respect to these • Resume work on their Virgin Australia project Note: make sure you take notes as we go! Also, open up to page 309 of your textbooks.
1. Product • What is a product?
1. Product • How can we classify products?
1. Product • Will the product’s classification impact on its marketing strategy?
1. Product • Product Development
1. Product • Product Development • Check out the link on our wiki (Google’s development process)
1. Product • Why do some products succeed & others fail? • Read page 311 and compete activity 18.2
1. Product • The Product life-cycle • Check out the Blu-ray vs HD DVD link on the wiki.
1. Product • The Product life-cycle • Flip to page 312.
Product Life-cycle • “The worst sort of business is one that grows rapidly, requires significant capital to engender the growth, and then earns little or no money. Think airlines. Here a durable competitive advantage has proven elusive ever since the days of the Wright Brothers. Indeed, if a farsighted capitalist had been present at Kitty Hawk, he would have done his successors a huge favor by shooting Orville down.” • - Warren Buffett