Certified Product Manager - Online Course and Exam - 280 Product Group / AIPM

Characteristics of a service and example for each - Inseparability - Bank visit Intangibility - University Course Variability - Customer Service Perishability - Airline flight Consumer products - Goods and services bought by final consumers for personal consumption (Tide) Convenience products - Purchased frequently and immediately. Low priced mass advertising, many purchased locations. (7-11 products) Define a product along the goods to service continuum. - Coffee shop (Coffee [good] -- -- barista [service]) Define a service product and list a couple of examples - 1) Rented goods - auto 2) Owned goods - auto repair 3) Non-goods - legal 4) Shared services - shared services by departments in an organization Describe a product addition decision where you are stretching the product line - BMW - low to high i-series Describe a product decision where you are filling in the product line - BMW - 335i series (coup, convertible, sport) Fill in the Product Life Cycle for Decline Marketing objective: Competition: Product: Price: Promotion: Place: - Marketing objective: Harvest and Deletion Competition: Reduced Product: Best Seller Price: Stay profitable Promotion: Minimal promotion Place: Fewer outlets Fill in the Product Life Cycle for Growth