Product , Operation Management

Product

Product is anything that can be offered to a market that might satisfy a want or need. There are two concepts of product narrow concept and wide concept. In its narrow concept, a product is a bundle of physical or chemical properties which has come utility. A product is not a non living object; it is not a mere assemblage of matter physical and chemical. Utility alone is not the function of the product. A product means an object which satisfies the need of the customer. Thus fan table pen cooler, chair etc, are products. In its wider concept all the brands all the colours all the packaging or all this designs of a product is taken to be different products.

For Example:

If a tooth paste is produced in three different sizes, these are three products because they satisfy needs of different customers. Thus if there is a change in the size or colour or brand or packaging it produces a new product. The product is thus total package of benefits received by a customer.

Posted Date: 12/10/2012 2:08:37 AM | Location : United States







Related Discussions:- Product , Assignment Help, Ask Question on Product , Get Answer, Expert's Help, Product Discussions

Write discussion on Product
Your posts are moderated
Related Questions
A large hotel-casion in Las Vegas is currently under construction. There will be an Italian restaurant in the hotel that will serve pizza. Management is trying to decide whether to

How are the quality of health care and excellence in customer service related to each other?

what are the factors that affect productivity

Develop a forecast for years 2 through 12 using exponential smoothing with %u03B1 = .4 and a forecast for year 1 of 6. Plot your new forecast on a graph with the actual data and th

How is greater flexibility of core staff achieved in an organisation? Greater flexibility of core staff into an organisation is accomplished by the follow: a. Shorter term a

Product contamination is a catastrophic event, both for the organization at fault and for the victims. Cases of product contamination frequently make the news. Find an example o

Choose an Operations Management problem relating to an organisation with which you are familiar and undertake a critical review. This should include (indicative marks provided):


Is and Why Conflict often contributes to effective decision making? Is an why Intuition is a valid approach to decision making in the work place?

To determine the standard working time for a special job, following observation data is collected: Observation 1 2 3 4 5 6 7 8 Time (in second) 17 18 15 14 13 15 16 13 a) If the pe