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
Overview: This case explores the mission to become a major player in the global personal computer industry. Lenovo acquired IBM%u2019s personal computer division in 2004 to become

Strategic Plan For this assignment, you will need to choose a company that you have familiarity with or knowledge of their corporate structure and strategies. You may choose to

Question : Show origin of Collaborative Planning, Replenishment, and Forecasting (CPFR) Origin from CFAR How CFAR standard was renamed CPFR Continuing improvements

Calculate row or column penalty we take two values namely the minimum and 2nd minimum? If 4 4 5 occurs in a problem, we choose 4 as a minimum and 5 the 2nd minimum why not another

Compare and contrast the Haiti SM discussion with the "Saving Lives with Social Media" case. Create a table that compares and contrasts elements from each. Is an emergent strategy

"Detecting Unethical Practices at Supplier Faculty" Please respond to the following: • Assess the value of having a Supplier Code of Conduct when outsourcing operational functio

A grocery store needs to sell 3,000 cartons of 2L 2% milk per month. The sales is relatively constant throughout the month. The owner of this grocery store purchases milk from a su

What does the concept of interactive design mean for a service such as the adventure playground described in this case study?

What do you understand by “line balancing”? What happens if balance doesn’t exist?

Q. What is usefulness of materials requirement planning first to manufacturing operations? Materials requirement planning (MRP I) is an inventory control system that gives an a