20-1 Product Service Management

To maximize profits by reducing costs

To ensure products/services meet customer needs

To create as many products/services as possible

To focus only on marketing strategies

Video Game

Electrical Repair

Barber/Hairdresser

Tour Guide

A service sold independently of any product

A service attached to and sold along with a tangible product/good

A service that is only available online

A service that is free for everyone

Spotify

Pandora

Dropbox

Google Drive

It helps marketers create marketing messages and position the brand.

It increases product prices.

It reduces customer needs.

It eliminates consumer trends.

Idea Generation

Screening

Product Development

Market Segmentation

Few companies can take the leap from good to great.

Great companies constantly improve.

Customers, trends, and society never change.

Challenge the status quo before the competition does.

A group of customers who receive the product after full-scale launch

A random selection of customers from all market segments

A specific, targeted group of customers chosen to access the product first

A group of customers who only provide negative feedback

Introduction

Growth

Maturity

Decline

Introduction

Growth

Maturity

Decline