Product modification

It's about how product modification occurs

1. Product modification Dev L ingkesh B.B.A AYYA NADAR JANKAI AMMAL COLLEGE

2. What’s product? Product  is an effect of business manufacturing activity or set of activities. Broadly it also include also services performed by  company  for its customers

3. Three types definitions # Economic – Product is tangible commodity that fulfills human needs (hospitality, daily consuming goods) # Business – Product is anything that can be offered in a market (services, and free online software’s, organizations) # Project management – Product may be tangible or intangible (sub products like mirror for bikes, chips for computers)

4. Product modification Product modification is process to change in existing product according to customer needs. Every product has outside appearance like, size, shape, texture, color etc. and inside property like strength, Hardness and other properties. ... Examples: For understanding product modification, Mobile is a good example

5. Key marketing basics The key  marketing  information to implement this strategy into an organization are those about customers such as : Preferences Buying habits Lifestyle habits

6. Types of modification Quality modification Functional modification Style modification

7. Quality modification I t refers mostly to the change in product's durability. There are two ways of quality modifications. Firstly, reducing quality of a product to decrease  price  and to reach new group of people who are not able to buy an original product. The second way is to increase quality to compete with other, rival firms. It is also a good way to build brand loyalty and it gives an opportunity to raise prices if needed

8. Functional modification I n this case more focus in paid to the product's versatility, effectiveness safety and convenience as well

9. Style modification T he last product's modification is combined with aesthetic product change. This way is more connected to the visual side of the product rather than  quality  or functionality.