DOCSLIB.ORG

Information As a Product: Not Goods, Not Services

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Information As a Product: Not Goods, Not Services Information as a product: not goods, not services Jon Freiden Associate Professor of Marketing, College of Business, Florida State University, Tallahassee, USA Ronald Goldsmith Professor of Marketing, College of Business, Florida State University, Tallahassee, USA Scott Takacs Assisant Professor, Department of Business, Georgetown College, Georgetown, Kentucky, USA Charles Hofacker Professor of Marketing, College of Business, Florida State University, Tallahassee, USA Recent decades have wit- and again without any degradation in the nessed an explosion in the The information age original data, i.e., information has the quantity of information being As the world’s economy enters the Informa- capacity to be digitised. Information, as produced, which in turn has tion Age, all types of digital data become conceptualised here, does not include live created vast opportunities for more important to many aspects of business, performances that require an audience to be information-based to say nothing of daily life (Drucker, 1994; present because these are, strictly speaking, businesses. The time has Naisbitt, 1982). Moreover, the selling, trans- services (Lovelock, 1991). In essence, we are come for information to be porting, and manipulating of information defining information both as the treated as a unique product have become a huge business. It is estimated communication of knowledge and as a signal alongside goods and services. that there are more than 36,000 information or transmitted data (The American Heritage But is information an intangi- product suppliers in the USA (Meyer and Dictionary, 1985). Furthermore, ble good or an imperishable Zack, 1996). One information supplier, information may be capable of being service? In this paper we Find/SVP, sells hundreds of marketing exchanged as in other marketing discuss the unique properties research and industry reports, many of which transactions (Rowley, 1995). of information as a product cost $2,000. In 1997 the A.C. Nielsen In common with most new product fields and propose that information Company generated over $1.358 billion in (Foxall, 1984), the initial thrust in the be distinguished conceptually marketing research revenue information industries has been creating new and thus marketed differently (http://www.nielsen.com/home, 30 July 1997). forms of information and the technologies to from both goods and services. Tapscott (1996, p. 9) estimates that the compile and disseminate them. Consequently, We offer recommendations interactive multimedia industry will gener- either a “production concept” or “selling for marketing practice that ate one trillion dollars or 10 per cent of the concept” approach has dominated this apply uniquely to information. gross domestic product of America in just a business. Our argument is that it is now time Finally, implications for mar- few years. Within the industry, almost all to focus more specifically on the marketing of keting theory, marketing current business efforts and research, how- information and let the “marketing concept” research, and directions for ever, are focused on the production and sale of guide the development of information future research into the information products (Meyer and Zack, 1996). products. A market orientation will be as marketing of information are This paper provides justification for the need essential to the success of information presented. to develop information marketing as a distinct companies in the future as it is now for any field of study and practice alongside other type of goods or services-based traditional goods marketing and the newer company (Deighton et al., 1996; Webster, 1994). field of services marketing. We suggest that The focus of our paper is the marketing of marketers should focus attention on information, where information is the creating theories and strategies that are primary component of a “product” to be uniquely suited to the marketing of purchased and used by either organisational or household consumers. This paper A version of this paper was information. presented by Professor Certainly, the term “information” has discusses the nature of information and pre- Goldsmith to the Marketing many meanings depending on the context in sents a review of the literature relevant to its Faculty at Kent State which it is used. While a later section dis- marketing. Next, we discuss a new paradigm University, 25 April 1997. cusses the concept of information in more that distinguishes goods, services, and detail, we begin by thinking of information information. Our orientation to the concept simply as words, numbers, pictures, software, of information is summarised well by Rowley sounds, or video. The content of information (1995), who states that information is “neither a good nor a service, but has some character- Marketing Intelligence & may be factual, as suggested by Campbell’s Planning definition: “news, intelligence, facts and istics of both as well as unique 16/3 [1998] 210–220 ideas that are acquired and passed on as characteristics of its own”. This leads to © MCB University Press knowledge” (Campbell, 1982, p.15). All of these recommendations concerning marketing [ISSN 0263-4503] may be “captured” in time and related again practice. Finally, implications for marketing [ 210 ] Jon Freiden, theory, marketing research, and directions service, as is a visit to the doctor, where the Ronald Goldsmith, for future research into information market- product is dominated by the professional Scott Takacs and ing are presented. service, but it may be accompanied by Charles Hofacker tangible medical devices or drugs (goods) and Information as a product: not goods, not services booklets or advice (information) on health Three types of products: goods, maintenance. Finally, a Type III product is an Marketing Intelligence & Planning services, and information information product; an encyclopedia on CD- 16/3 [1998] 210–220 ROM is virtually all information, but it also As the marketing concept has long argued, a has a small goods component (the CD, its product is a bundle of benefits that a firm case, the jewel box), and a small service offers to consumers to meet their needs and component (the online help and upgrades). wants (Webster, 1994). Expanding on this While this article focuses mainly on the “product/service bundle,” we propose that a marketing of Type III products, the product consists of relative proportions of implications are clear: marketers of all types three primary elements: goods, services, and of products should keep in mind that their information. Figure 1 shows this new market offering may contain some concept of a product embedded in the proportion of each of these three elements augmented product concept introduced and that competitive advantage, consumer by Levitt (1983) and discussed by Webster value, and new product development can (1994). be guided by enhancing each part of the Most products can be conceptualised as a product. mixture of these three elements. An example of a product that is comprised of approximately equal proportions of all three Information is unique elements would be personal computers: the total product consists of the hardware First, it is important to establish a conceptual (goods), the service guarantee and user sup- definition for information and identify its port services (services), and information on properties. Information is unique because it its use contained in the manuals and disks has a mathematical form, regardless of (information). From this orientation (see whether the medium carrying the informa- Figure 2) we can refer to a Type I product as tion is a book, movie, audio tape, or computer one that is dominated by the goods compo- screen. In modern terms, information has the nent. Premium oranges sold during the capacity to be digitised without any loss of holidays, while dominated by the goods com- content (Gates, 1995). It may be provided in ponent, may have smaller sectors devoted to printed or electronic form and it can be sold services (e.g., returns for imperfections) and to external markets or it can be used inter- information (e.g., a booklet describing unique nally by the originator (Meyer and Zack, uses). A Type II product is predominantly a 1996). Information may be uniformly consumed by more than one person, at various Figure 1 locations, at any time. Information is A new concept of a product: tangible goods, services, and information delivered in an impersonal manner, or it has the capacity to be so delivered. Thus, information is the same for all consumers who can use it any way they wish. The challenge for managers of Type III products (such as the author of a thrilling novel or the creator of a software innovation) is to develop the information (often having high fixed cost and long development time) after which Tangible Services the product may be sold over and over with Goods Core Product negligible variable cost. There is no theoretical limit to the level of supply by a single producer (e.g., there are over 100 Information million copies of Windows 3.1 used through- Expected Product out the world, all virtually identical (Schlender, 1995)). Furthermore, consuming information Augmented Product does not use it up or change it (the feature of permanence), although it can become out of date (the feature of obsolescence). Infor- mation should not be confused with its [ 211 ] Jon Freiden, Figure 2 Ronald Goldsmith, Three types of products Scott Takacs and Charles Hofacker Information Service Information as a product: not goods, not services Marketing Intelligence & Information Planning 16/3 [1998] 210–220 TYPE II TYPE I Tangible 2. Services 1. Tangible Goods Haircut Tyres Service Tangible Bank Account Car Battery Repair Service Oranges TYPE III 3. Information Instructional Manual News Service On-line Directory mode or the medium through which it is traditional economic distinction between delivered. Mode here refers to whether durable and nondurable goods, Copeland’s information exists symbolically as words, (1924) breakdown of goods into convenience, numbers, pictures, or sounds. Medium shopping, and specialty goods is well known refers to the physical means by which it is to marketers.
Load more

Recommended publications
  • The Great Divergence the Princeton Economic History
    THE GREAT DIVERGENCE THE PRINCETON ECONOMIC HISTORY OF THE WESTERN WORLD Joel Mokyr, Editor Growth in a Traditional Society: The French Countryside, 1450–1815, by Philip T. Hoffman The Vanishing Irish: Households, Migration, and the Rural Economy in Ireland, 1850–1914, by Timothy W. Guinnane Black ’47 and Beyond: The Great Irish Famine in History, Economy, and Memory, by Cormac k Gráda The Great Divergence: China, Europe, and the Making of the Modern World Economy, by Kenneth Pomeranz THE GREAT DIVERGENCE CHINA, EUROPE, AND THE MAKING OF THE MODERN WORLD ECONOMY Kenneth Pomeranz PRINCETON UNIVERSITY PRESS PRINCETON AND OXFORD COPYRIGHT 2000 BY PRINCETON UNIVERSITY PRESS PUBLISHED BY PRINCETON UNIVERSITY PRESS, 41 WILLIAM STREET, PRINCETON, NEW JERSEY 08540 IN THE UNITED KINGDOM: PRINCETON UNIVERSITY PRESS, 3 MARKET PLACE, WOODSTOCK, OXFORDSHIRE OX20 1SY ALL RIGHTS RESERVED LIBRARY OF CONGRESS CATALOGING-IN-PUBLICATION DATA POMERANZ, KENNETH THE GREAT DIVERGENCE : CHINA, EUROPE, AND THE MAKING OF THE MODERN WORLD ECONOMY / KENNETH POMERANZ. P. CM. — (THE PRINCETON ECONOMIC HISTORY OF THE WESTERN WORLD) INCLUDES BIBLIOGRAPHICAL REFERENCES AND INDEX. ISBN 0-691-00543-5 (CL : ALK. PAPER) 1. EUROPE—ECONOMIC CONDITIONS—18TH CENTURY. 2. EUROPE—ECONOMIC CONDITIONS—19TH CENTURY. 3. CHINA— ECONOMIC CONDITIONS—1644–1912. 4. ECONOMIC DEVELOPMENT—HISTORY. 5. COMPARATIVE ECONOMICS. I. TITLE. II. SERIES. HC240.P5965 2000 337—DC21 99-27681 THIS BOOK HAS BEEN COMPOSED IN TIMES ROMAN THE PAPER USED IN THIS PUBLICATION MEETS THE MINIMUM REQUIREMENTS OF ANSI/NISO Z39.48-1992 (R1997) (PERMANENCE OF PAPER) WWW.PUP.PRINCETON.EDU PRINTED IN THE UNITED STATES OF AMERICA 3579108642 Disclaimer: Some images in the original version of this book are not available for inclusion in the eBook.
    [Show full text]
  • The First Great Divergence
    Mellon-Sawyer Seminar 2007/8 “The first great divergence: China and Europe, 500-800 CE” Organized by Ian Morris, Walter Scheidel, and Mark Lewis, Departments of Classics and History, Stanford University Sponsored by the Andrew W. Mellon Foundation Six hundred years ago China was the most powerful state on earth. The eunuch admiral Zheng He spent 1406 cruising around the Indian Ocean at the head of 30,000 crew in a fleet of giant Chinese “treasure ships,” trading, collecting tribute, and setting up and deposing client kings at will. By 1433, Chinese ships were visiting Arabia, Ethiopia, and Kenya, and probably Australia too. By any reasonable estimate, China seemed set to become the world’s first global power. But that did not happen. Anti-trade Confucian factions won out in struggles at the Ming court, and long-distance voyages were banned. By 1467, most records of Zheng’s voyages were lost or destroyed. Half a millennium later, far from dominating as the world, China seemed – at least to western observers – to be going backward. When a dispute over opium trading escalated uncontrollably in 1839, the British sent a small naval force to claim damages from the governor of Canton. A single ironclad gunboat blasted its way through all the Chinese defenses, and in 1842, with the Grand Canal under British control, Nanjing facing plunder, and famine closing in on Beijing, China conceded British demands for open ports and the right to send missionaries deep into the country. This defeat triggered crises that brought China to the verge of partition. One Hong Xiuquan, a failed civil service candidate who developed his own bizarre version of Christianity out of the teachings of the missionaries at Canton, led the massive Taiping Rebellion to install a Heavenly Kingdom of Great Peace.
    [Show full text]
  • The Basic Economics of Internet Infrastructure
    Journal of Economic Perspectives—Volume 34, Number 2—Spring 2020—Pages 192–214 The Basic Economics of Internet Infrastructure Shane Greenstein his internet barely existed in a commercial sense 25 years ago. In the mid- 1990s, when the data packets travelled to users over dial-up, the main internet T traffic consisted of email, file transfer, and a few web applications. For such content, users typically could tolerate delays. Of course, the internet today is a vast and interconnected system of software applications and computing devices, which society uses to exchange information and services to support business, shopping, and leisure. Not only does data traffic for streaming, video, and gaming applications comprise the majority of traffic for internet service providers and reach users primarily through broadband lines, but typically those users would not tolerate delays in these applica- tions (for usage statistics, see Nevo, Turner, and Williams 2016; McManus et al. 2018; Huston 2017). In recent years, the rise of smartphones and Wi-Fi access has supported growth of an enormous range of new businesses in the “sharing economy” (like, Uber, Lyft, and Airbnb), in mobile information services (like, social media, ticketing, and messaging), and in many other applications. More than 80 percent of US households own at least one smartphone, rising from virtually zero in 2007 (available at the Pew Research Center 2019 Mobile Fact Sheet). More than 86 percent of homes with access to broadband internet employ some form of Wi-Fi for accessing applications (Internet and Television Association 2018). It seems likely that standard procedures for GDP accounting underestimate the output of the internet, including the output affiliated with “free” goods and the restructuring of economic activity wrought by changes in the composition of firms who use advertising (for discussion, see Nakamura, Samuels, and Soloveichik ■ Shane Greenstein is the Martin Marshall Professor of Business Administration, Harvard Business School, Boston, Massachusetts.
    [Show full text]
  • MARKETING PLAN OUTLINE (Recommended Length: 3-5 Pages)
    MARKETING PLAN OUTLINE (Recommended Length: 3-5 pages) 1. Company Name 2. Marketing or Promotional Statement 5-7 words briefly describing your business and its product or service 3. Product or Service Description Nature and detailed description of your product or service What do you sell? What are the benefits your products/services? What is special, unique, or different about your product or service? Describe your Unique Selling Proposition (USP). 4. Market Analysis Service/Industry Background and Description Market Segments Current Market Situation Analysis Competitive Analysis - Strengths, Weaknesses, Opportunities and Threats Marketing Research Who are your competitors? What do your competitors do better than you? What do you do better than your competitors? What is your competitive position? How large is your overall market? What is your market share? Is your market share increasing, shrinking, or stable? How do your prices compare to your competitors' prices? How do you establish prices? What are your business strengths? What are your business weaknesses? What might keep you from achieving your goals? Is your market changing in any ways? What facts or new information do you need to figure out? 5. Target Market Target Market Definition Demographic and Psychographic Profile for Primary and Secondary Customers What are your target markets? Who are your current customers? What are their buying habits? Why do your customers actually buy your goods/services? Who are your best customers and prospects? Marketing Plan Outline (Continued) 6. Marketing Objectives Revenues (Year one, Year two, Year three) Profits (Year one, Year two, Year three) Market Share – Optional What are your overall goals? 7.
    [Show full text]
  • The Paradigms of Industry 4.0 and Circular Economy As Enabling
    social sciences $€ £ ¥ Article The Paradigms of Industry 4.0 and Circular Economy as Enabling Drivers for the Competitiveness of Businesses and Territories: The Case of an Italian Ceramic Tiles Manufacturing Company Fernando E. Garcia-Muiña 1 , Rocío González-Sánchez 1 , Anna Maria Ferrari 2 and Davide Settembre-Blundo 1,3,* 1 Department of Business Administration (ADO), Applied Economics II and Fundaments of Economic Analysis, Rey-Juan-Carlos University, 28032 Madrid, Spain; [email protected] (F.E.G.-M.); [email protected] (R.G.-S.) 2 Department of Sciences and Methods for Engineering, University of Modena and Reggio Emilia, 42122 Reggio Emilia, Italy; [email protected] 3 Gruppo Ceramiche Gresmalt, Via Mosca 4, 41049 Sassuolo, Italy * Correspondence: [email protected]; Tel.: +39-0536-867-011 Received: 1 November 2018; Accepted: 30 November 2018; Published: 4 December 2018 Abstract: Sustainable development and the circular economy are two important issues for the future and the competitiveness of businesses. The programs for the integration of sustainability into industrial activities include the reconfiguration of production processes with a view to reducing their impact on the natural system, the development of new eco-sustainable products and the redesign of the business model. This paradigm shift requires the participation and commitment of different stakeholder groups and industry can completely redesign supply chains, aiming at resource efficiency and circularity. Developments in key ICT technologies, such as the Internet of Things (IoT), help this systemic transition. This paper explores the phases of the transition from a linear to a circular economy and proposes a procedure for introducing the principles of sustainability (environmental, economic and social) in a manufacturing environment, through the design of a new Circular Business Model (CBM).
    [Show full text]
  • Next Generation Supply Chain: Supply Chain 2020
    Supply Chain 2020 Next generation supply chain: Supply chain 2020 July 2013 Copyright © 2013, by McKinsey & Company, Inc. Next generation supply chain: Supply chain 2020 Knut Alicke Balaji Iyer 2 Next generation supply chain Supply chain 2020 3 Contents Acknowledgements 5 Introduction 7 1. Key trends shaping supply chains 9 2. Implications for the next generation supply chain 15 4 Next generation supply chain Supply chain 2020 5 Acknowledgements We would like to thank Sumit Dutta, a partner in our Mumbai office, and Muthiah Venkateswaran, an associate partner in our Chennai office, for their contributions to this whitepaper. We would like to thank Insa Mareen Wente, a consultant based in our Hamburg office; Kerstin Kubik, a knowledge expert based in our Vienna office; and Markus Leopoldseder, a director of knowledge (supply chain management) based in our Vienna office, for their contributions. We would also like to thank Vineeta Rai for the editorial support; Kulsum Merchant for the support in external relations; J Sathya Kumar and Nipun Gosain for their visual aids support. This whitepaper is not based on any primary research that we conducted; it synthesises our perspectives gained from past research and experience in serving multiple stakeholders of supply chains over many years. For the experience and perspectives, we acknowledge our supply chain practice without whose efforts this whitepaper could not have been published. Finally, we would like to thank the Confederation of Indian Industry (CII) and CII Institute of Logistics for the opportunity and the forum to provide our perspective on supply chain evolution. This work is independent and has not been commissioned or sponsored in any way by any business, government or other institution.
    [Show full text]
  • Employment Situation of Veterans — 2020
    For release 10:00 a.m. (ET) Thursday, March 18, 2021 USDL-21-0438 Technical information: (202) 691-6378 • [email protected] • www.bls.gov/cps Media contact: (202) 691-5902 • [email protected] EMPLOYMENT SITUATION OF VETERANS — 2020 The unemployment rate for veterans who served on active duty in the U.S. Armed Forces at any time since September 2001—a group referred to as Gulf War-era II veterans—rose to 7.3 percent in 2020, the U.S. Bureau of Labor Statistics reported today. The jobless rate for all veterans increased to 6.5 percent in 2020. These increases reflect the effect of the coronavirus (COVID- 19) pandemic on the labor market. In August 2020, 40 percent of Gulf War-era II veterans had a service-connected disability, compared with 26 percent of all veterans. This information was obtained from the Current Population Survey (CPS), a monthly sample survey of about 60,000 eligible households that provides data on employment, unemployment, and persons not in the labor force in the United States. Data about veterans are collected monthly in the CPS; these monthly data are the source of the 2020 annual averages presented in this news release. In August 2020, a supplement to the CPS collected additional information about veterans on topics such as service-connected disability and veterans' current or past Reserve or National Guard membership. Information from the supplement is also presented in this news release. The supplement was co-sponsored by the U.S. Department of Veterans Affairs and the U.S. Department of Labor's Veterans' Employment and Training Service.
    [Show full text]
  • What Is Unemployment Insurance (Ui)? Am I Eligible? How Do I Apply?
    WHAT IS UNEMPLOYMENT INSURANCE (UI)? Unemployment Insurance is a joint state-federal program that provides cash benefits to eligible workers. Each state administers UI Benefits are Administered by States a separate UI program, but all states follow the same guidelines established by federal law. To find information about your state’s program, including eligibility, benefits, Unemployment insurance payments (benefits) are intended to and application information, visit our provide temporary financial assistance to unemployed workers Unemployment Insurance Service who are unemployed through no fault of their own. Each state Locator. sets its own additional requirements for eligibility, benefit amounts, and length of time benefits can be paid. Generally, benefits are based on a percentage of your earnings over a recent 52-week period, and each state sets a maximum amount. Benefits are subject to federal and most state income taxes and must be reported on your income tax return. You may choose to have the tax withheld from your payment. AM I ELIGIBLE? Each state sets its own guidelines for eligibility for UI benefits, but you usually qualify if you: Are unemployed through no fault of your own. In most states, this means you have to have separated from your last job due to a lack of available work. Meet work and wage requirements. You must meet your state’s requirements for wages earned or time worked during an established period of time referred to as a "base period." (In most states, this is usually the first four out of the last five completed calendar quarters prior to the time that your claim is filed.) Meet any additional state requirements.
    [Show full text]
  • A Glossary of Fiscal Terms & Acronyms
    AUGUST7,1998VOLUME13,NO .VII A Publication of the House Fiscal Analysis Department on Government Finance Issues A GLOSSARY OF FISCAL TERMS & ACRONYMS 1998 Revised Edition Abstract. This issue of Money Matters is a resource document containing terms and acronyms commonly used by and in legislative fiscal committees and in the discussion of state budget and tax issues. The first section contains terms and abbreviations used in all fiscal committees and divisions. The remaining sections contain terms for particular budget categories and accounts, organized according to fiscal subject areas. This edition has new sections containing economic development, family and early childhood, and housing terms and acronyms. The other sections are revised and updated to reflect changes in terminology, particularly the human services section. For further information, contact the Chief Fiscal Analyst or the fiscal analyst assigned to the respective House fiscal committee or division. A directory of House Fiscal Analysis Department personnel and their committee/division assignments for the 1998 legislative session appears on the next page. Originally issued January 1997 Revised August 1998 House Fiscal Analysis Department Staff Assignments — 1998 Session Committee/Division Fiscal Analyst Telephone Room Chief Fiscal Analyst Bill Marx 296-7176 373 Capital Investment John Walz 296-8236 376 EDIT— Economic Development Finance CJ Eisenbarth Hager 296-5813 428 EDIT— Housing Finance Cynthia Coronado 296-5384 361 Environment & Natural Resources Finance Jim Reinholdz 296-4119 370 Education — Higher Education Finance Doug Berg 296-5346 372 K-12 Education Finance Greg Crowe 296-7165 378 Family & Early Childhood Finance Cynthia Coronado 296-5384 361 Health & Human Services Finance Joe Flores 296-5483 385 Judiciary Finance Gary Karger 296-4181 383 State Government Finance Helen Roberts 296-4117 374 Transportation Finance John Walz 296-8236 376 Taxes — Income, sales, misc.
    [Show full text]
  • Product Development in the World Auto Industry
    KIM B. CLARK Harvard University W. BRUCE CHEW Harvard University TAKAHIRO FUJIMOTO Harvard University Product Development in the World Auto Industry CHANGES in international competition in the past decade, and particularly the competitive problems of once-dominant U.S. firms and industries, have heightened interest in what causes international differences in productivity and product quality. Although analysis of macroeconomic data has produced some important insights, recent research has focused increasingly on the comparative behavior of industries, firms, and factories. 1 Such research raises in a direct way the issue of management efficiency. Especially at the factory level, a growing body of evidence Thisresearch was supportedby the Divisionof Research,Graduate School of Business Administration,Harvard University. We are indebted to BrandtGoldstein and Frank Dubinskasfor theirassistance. 1. For an eclectic survey of microeconomicproductivity research see RichardR. Nelson, "Researchon ProductivityGrowth and Productivity Differences: Dead Ends and New Departures,"Journal of EconomicLiterature, vol. 19 (September1981), pp. 1029- 64. Recent exampleswould includeRobert H. Hayes and Kim B. Clark,"Exploring the Sources of ProductivityDifferences at the Factory Level," in Kim B. Clark,Robert H. Hayes, and Christopher Lorenz, eds., The Uneasy Alliance: Managing the Productivity- TechnologyDilemma (Harvard Business School Press, 1985),pp. 151-88;Bernard Eugene Ichniowski, "How Do Labor Relations Matter? A Study of Productivityin Eleven ManufacturingPlants" (Ph.D. dissertation, Massachusetts Institute of Technology,1983); and BenjaminKlotz, Rey Madoo, and Reed Hansen, "A Study of High and Low 'Labor Productivity'Establishments in U.S. Manufacturing,"in JohnW. Kendrickand Beatrice N. Vaccara, New Developments in Productivity Measurement and Analysis (University of ChicagoPress for the NationalBureau of EconomicResearch, 1980),pp.
    [Show full text]
  • Automotive Product Design & Development Delphi
    AUTOMOTIVE PRODUCT DESIGN & DEVELOPMENT DELPHI by MANUFACTURING, ENGINEERING, AND TECHNOLOGY GROUP CENTER FOR AUTOMOTIVE RESEARCH MARCH 2005 Sponsored by Parametric Technologies Corporation The statements, findings, and conclusions herein are those of the authors and do not necessarily reflect the views of the project sponsor. ACKNOWLEDGEMENTS Many people from many organizations participated in this study and whose contributions are herewith acknowledged. First, the people at PTC without whose financial and intellectual support this study would never have been conducted. Second, a thank you to the people of CAR, specifically Chris Gulis, who analyzed the data, and Dr. David Cole, Brett Smith, and Wendy Barhydt, who edited the report and provided insight into the many conclusions that were drawn from the study. Lastly, we all owe a debt of gratitude to the members of the panel, who donated their time and thoughts to a topic they believed to be one of the most important in the industry today. Richard J. Gerth, Ph.D. Center for Automotive Research 1 GLOSSARY N.A. North American (United States, Canada, Mexico). Off-Shore All other countries not in N.A. PD&D Produce Design and Development. Product Specific Characteristics Main or major characteristics that define the product. For example, the major characteristics for car bodies are the surface finish, gaps, flush, and crash performance. Some major characteristics for engines are horsepower, torque, and fuel efficiency. 2 I. EXECUTIVE SUMMARY...........................................................................................................................1
    [Show full text]
  • The Marketing Plan
    The Marketing Plan The most important part of a business plan is the Marketing Plan. To keep one’s business on course this plan must be geared toward the business’s mission—its product and service lines, its markets, its financial situation and marketing/sales tactics. ♦ The business must be aware of its strengths and weaknesses through internal and external analysis and look for market opportunities. ♦ The business must analyze its products and services from the viewpoint of the customer—outside-in thinking. What is the customer looking for and what does the customer want (benefits)? The business must gain knowledge of the marketplace from its customers. ♦ The business must analyze its target markets. What other additional markets can the business tap into and are there additional products or services the business can add? ♦ The business must know its competition, current and potential. By identifying the competitor’s strengths and weaknesses the business can improve its position in the marketplace. ♦ The business must make decisions on how to apply its resources to the target market(s). ♦ The business must utilize the information it has gathered about itself, its customers, its markets, and its competition by developing a written Marketing Plan that provides measurable goals. The business must select marketing/sales tactics that will allow it to achieve or surpass its goals. ♦ The business must implement the plan (within an established budget) and then measure its success in terms of whether or not the goals were met (or the extent to which they were). The Marketing Plan is an ongoing tool designed to help the business compete in the market for customers.
    [Show full text]