Viability, Profitability, and Customer Requirements and Best Product for Market Need

WORKSHEET 5

Name: HERNANDEZ, ELIXA ANYA L. Date: MARCH 25, 2021

Section: 12- ICT- 01 Instructor: MR. JAMIL D. GALANGGA

PRACTICE/APPLICATION/SYNTHESIS:

DIRECTION: Identify the following statement whether it is INTRODUCTION, GROWTH,

MATURITY and DECLINE

INTRODUCTION 1. Limited competition

DECLINE 2. Cheaper markets
MATURITY 3. Profits start to decrease
DECLINE 4. Falling sales and profits
INTRODUCTION 5. High cost
GROWTH 6. Increasing competition
GROWTH 7. Lower prices
MATURITY 8. Decreasing market share
GROWTH 9. Different marketing approach
DECLINE 10. Product withdrawal

Give examples of the following

Tangible products are characterized not only by physical items

1.Tangible
that can be seen, felt, heard, and, in some cases, tasted, but also
by their designs, logos, and branding. Some common tangible
products are Coke, computers, cars, mobile phones, and
appliances.

An augmented product has been supplemented by its seller

2. Augmented
with additional features or services to differentiate it from rivals'
variations of the same product. Enhancing a product entails
adding intangible advantages or add-ons that go beyond the
product itself. Some examples of augmented products are free
delivery, discount, freebies, free subscriptions, health
insurance, warranty, medical benefits, insurance, etc.
 A durable good does not wear out easily. It has long-term value
3. Durable
rather than being consumed in a single-use. Some examples of
durable goods are home appliances, lawn and garden
equipment, vehicles, jewelry, consumer electronics, small
tools, toys, equipment, etc.

Non-durable goods, also known as soft goods, are the opposite

4. Non-durable
of durable goods and are referred to as consumables. These are
products that are used in single use or have a lifetime of fewer
than three years. Some examples of non-durable goods are
cosmetics, food, cigarettes, paper products, clothing, shoes,
cleaning products, etc.

Generic Products emphasize the product's effect on the buyer

5. Generic
rather than the seller. This will indicate the reason for its
development as well as the primary goal in developing the
product. As an example: Credibility, longevity, a status
symbol, and professional identity and reputation.

Impulse products are items purchased on the spur of the

6. Impulse
moment, i.e. without prior planning to do so. Some examples are
chocolate, snacks, chewing gum, sweets, perfume, clothes,
etc.

7. Own goods Owned-goods services include the repair, improvement, or

maintenance of consumer-owned goods. To name a few, these
services services include dry cleaning, haircuts, car washes, lawn
maintenance, plumbing, watch repair, and vehicle repair.

Raw materials are materials or ingredients used in the main

8. Raw materials
processing or manufacture of goods. They are the materials that
a business uses to create finished goods and products.Examples
include the wood used to produce furniture, the fabric used to
make clothes, the oils used to maintain equipment, and the
lightbulbs in a factory.

Convenience products are those that customers purchase

9. Convenience
without giving much thought about their purchase. This is mostly
products because the consumer already has all of the details they need
about the product before going out to purchase it. Newspapers,
magazines, most food products, and gasoline are among
them.

Fabricated parts are finished goods from other industries that are
10. Fabricated parts
incorporated into the manufacturer's product without further form
modifications. Some examples are screws, some car companies
used fabricated engines, machinery, etc.
 TIME TO REFLECT:

Directions: Reflect on the learning that you gained in this lesson by completing the chart
below.

I thought that when someone creates a product it will always stay on the market. But that initial
thought change when we tackled our lesson. And I now have a deeper understanding of how products
are just like humans too.

I learned that not all products will not gonna stay in the market forever. It has a cycle and it is a cycle.
The product sometimes on top, where everyone is buying it, or down where it is almost forgotten. But
those that on the downside has a chance to improve themselves and be on top again. Just like In life,
just because we are on top now, it does not mean that we will stay there all the time. The time will
come that we possibly go down and if we won’t do everything we can to do our best, to improve
ourselves, we won’t reclaim the top position again. Not to offend anyone, but let’s not make the same
mistake as Nokia. Let’s be innovative and always try something new. Don’t be contented but not to the
point where we are greedy of fame, we are greedy of power. Don’t stay in your comfort zone. Try to go
out and explore new things and for sure it will be worth it.