StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...
Free

The Three Major Components of a Product - Article Example

Cite this document
Summary
The paper “The Three Major Components of a Product” will look at three most important components of a product. These three major components of a product are related to notions, such as product designing, product operations, and cost of the production process…
Download full paper File format: .doc, available for editing
GRAB THE BEST PAPER93.9% of users find it useful
The Three Major Components of a Product
Read Text Preview

Extract of sample "The Three Major Components of a Product"

The Three Major Components of a Product Product and its components: There are three most important components of a product. These three major components of a product are related to notions, such as product designing, product operations, and cost of the production process. The notion of product designing is related to the overall design or structure of the product. For instance, if the product is a car, then product designing signifies the design, shape and structure of the car (Kaufman and Woodhead, 2006, p.163). The concept of product operation includes product marketing, sales of the product and the also the process of checking of the level of customer satisfaction generated from the consumption of the product (Slater and Narver, 1994, p.22). The notion of ‘cost of production’ deals with the overall expenses which have been made by the production house in producing the particular product (Kaufman and Woodhead, 2006, p.

164; Essential Components of RTI – A Closer Look at Response to Intervention, 2010, p.2).Importance of product adaptation: To understand the perceived complexity of tailored as opposed to standardised products, one need to understand how different cultural influences concur with the perceived value as well as the importance known to a product or service by the market. A product, in this context, is more than the physical element and it is regarded as a package of different rewards and/or utilities that the buyer gets.

These aspects include the shape, the flavor, the color, the smell and also the texture of the product. Also aspects like how the product works, the packaging, the labeling, and the security are closely related to these aspects. Along with these aspects the service manufacturer and the retailer, the level of confidence or status enjoyed by the particular brand, the level of reputation of manufacturers, of a country of origin, or any other representative utility expected by the possession and/or use of that product.

Considering a product mainly for the second market, the amount of adjustment which is required largely depends on the cultural differences as well as the perception of the market where these products were originally developed. The greater the level of cultural differences between these two markets, the higher the level of adaptation of the product that will be necessary (Barbu, n.d., p.109).The cases of American product: One of the most important American products which has been changed to a great extent in the context of the increasing the volume of sales in the foreign market has been showing programs on the TV channel MTV.

These programs have been changed radically to incorporate the global cultural, social and economic aspects. Also aspects related to the patterns of choices of global viewers have been incorporated into these aspects. The most important reason for this change has been to increase the popularity and number of viewers or profit margin of the channel (Galeota, 2004, pp.22-23). Again in case of the cultural changes which have been made in respect to the US products has been related to the situation where products related to Internet services have been changes.

In this case, Internet services products have been changes to incorporate the cultural aspects prevailing in the foreign markets. These aspects include the cultural structure, norms, cultural rules and regulations of different countries (Rothaermel et al., 2006, p.56). In this case also, these products have been culturally modified to increase the profit margins of companies which are producing these products.References:Barbu, C. M. (n.d.), CULTURAL ADAPTATION OF PRODUCTS, University of Craiova, retrieved on April 26, 2012 from: http://www.mnmk.ro/documents/2011/9_Barbu%20FFF.

pdf Essential Components of RTI – A Closer Look at Response to Intervention, (2010), National Center on Response to Intervention, retrieved on April 26, 2012 from: http://www.cldinternational.org/Articles/rtiessentialcomponents.pdf Galeota, J. (2004), Cultural Imperialism: An American Tradition, HUMANIST ESSAY CONTEST WINNERS, retrieved on April 26, 2012 from: http://www.thehumanist.org/humanist/articles/essay3mayjune04.pdf Kaufman, J. J. and Woodhead, R. M. (2006), Stimulating Innovation in Products And Services: With Function Analysis And Mapping, USA: John Wiley & SonsRothaermel, F. T. et al., (2006), International Market Entry by U.S. Internet Firms: An Empirical Analysis of Country Risk, National Culture, and Market Size, Journal of Management, Vol.32, No.1, pp.

56-82Slater, S. F. and Narver, J. C. (1994), Market orientation, customer value, and superior performance, Business Horizons, retrieved on April 26, 2012 from: http://academics.eckerd.edu/instructor/trasorrj/Consumer%20behavior/Consumer%20Behavior%20Articles/Value/Market%20Orientation.pdf

Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Three Major Components of a Product Article Example | Topics and Well Written Essays - 500 words”, n.d.)
The Three Major Components of a Product Article Example | Topics and Well Written Essays - 500 words. Retrieved from https://studentshare.org/business/1595381-the-three-major-components-of-a-product
(The Three Major Components of a Product Article Example | Topics and Well Written Essays - 500 Words)
The Three Major Components of a Product Article Example | Topics and Well Written Essays - 500 Words. https://studentshare.org/business/1595381-the-three-major-components-of-a-product.
“The Three Major Components of a Product Article Example | Topics and Well Written Essays - 500 Words”, n.d. https://studentshare.org/business/1595381-the-three-major-components-of-a-product.
  • Cited: 0 times

CHECK THESE SAMPLES OF The Three Major Components of a Product

The Company's Environmental Policies and Practices

Mixing the mash plant products is done at the right controlled temperatures, where the enzymes in the malt are now converted from starches into sugars, forming a product referred to as wort sugars, which is a fermentable sugar product (Hernon, 1972).... The three components of the production facility design are housed in the malt plant, after which the product produced from the malt plant is now taken to the brew house, where the rest of the production process is to continue....
4 Pages (1000 words) Essay

Management Accounting: Justin PLC

The Impact of Stopping the Product Alice 100 will be as below: … Considering the three options option II is ideally the optimal product mix.... Based on the Budgeted profit statement for July 2007, the Managing Director's decision to stop the production of the product Alice 100 is correct as it is expected to make a net loss as per the budgeted statement.... Although the product Alice 700 provides higher contribution per unit, the profitability statement workings prove that the remaining units are to be allotted to product Alice 300 due to higher profit....
10 Pages (2500 words) Research Paper

Marketing Logistics Interface in RS Components Company

RS Componenents is mainly focusing on meeting the customer's demand by a rare combination of value, choice and service through innovating in pricing, product marketing and first initiative moves.... Its current product launching strategy is associated with making use of niche markets that exist in many parts of Britain, including e-retailing.... For instance its recent product launches in Britain were highly successful due to the suddenness and the associated surprise....
12 Pages (3000 words) Case Study

Major Components of a Product

The following paper “major components of a product” looks at product adaptation, which refers to the process through which a manufacturer makes changes to improve an existing product and make it more appealing to a target market usually in new markets.... major components of a product Core component This is the physical product and its functional features such as shape, design, color, and composition.... mportance of product components to product adaptationThe adjustments in a product's main components are made in accordance with the particular target market needs and consumption behavior....
2 Pages (500 words) Essay

Introduction on Nissan Motor Company and the Supply Chain for Nissan Company

The newly organized company was focused on the manufacture and sale of automobiles and components under a newly created label—Datsun.... The company has a quite stable technique in using major competitive companies, and it only uses these companies if there is competitive value.... Yet, by the second half of the 1990s, Nissan had been facing some major problems, and in 1999 it started a partnership with Renault, a French car manufacturer....
5 Pages (1250 words) Research Paper

Accelerating Development of Home Automation System

There are befits that will that the product will have to both the firm and home users.... hellip; The unique nature of a given product should attract demand from the available market and increase competitiveness within a given business environment.... The project should be rolled immediately to avoid new entries into the market that would jeopardize the viability of the product.... The acceleration of home automation would depend on the nature in which firms present their product to the market....
13 Pages (3250 words) Research Paper

Product Innovation

This product innovation is majorly concerned with the product market.... hellip; This essay analyzes that the existence of product market is enormous all over the world since all exploration and production companies have been heavily involved in exploring and producing oil and gas, which has become the major basic commodity of the modern world since all vehicles, transport and heavy machinery need this commodity.... ow in this mechanical assembly of flanges, it has two components with the related assembly; the product specification will spotlight for process and material selection for the manufacturing of the two products....
9 Pages (2250 words) Assignment

Technology Development in the Use of Computer-Aided Manufacturing Technologies

product modeling is the key sense of designing products with complete variants that become more applicable in the future development of the technology.... The need to automate systems is to increase productivity, increase safety for operation, and develop components that fit their specific functions.... To lower the historical challenges in the use of the CAM shortcomings, three arenas of the software have been modified to ensure that the CAM technology fits a wide range of users and applications....
7 Pages (1750 words) Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Contact Us