THE ESSENCE OF NEW

PRODUCT
DEVELOPMENT
-define a product and differentiates the product,
services, and experiences
Group Members
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Rosales, Jemar
Velarde, Rhudelyn
Ambe, Carl Justine
Matas, Jamilla
Sanchez, Iriesh
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What is a product?
Products are tangible items that are part of an
exchange between a buyer and seller. Products
can be seen, touched, owned, and stored. For
example, the computer or tablet you’re using
to read this textbook is a product.
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Services are intangible solutions

that are also an exchange WHAT
between buyer and seller. Unlike
products, services cannot be ARE
touched, owned, or stored for
later use. For example, a college
SERVICES?
course on marketing is a service.
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Customer
5
Experience
4.5

Customer experience is the overreaching impression

3.5

that customers have of a brand. Therefore, each SUBTITTLE

3

2.5
2
touchpoint with a product or service becomes a part of
1.5

1the customer experience. A strong customer experience

integrates technology, marketing, sales, and customer
0.5
0

service to deliver a strong brand perception.

2019 2020 2021

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TANGIBLE
5

4.5 INTANGIBLE
4
TEXT TEXT
VS. TEXT
3.5
Assessing the quality In contrast, a service
SUBTITTLE
3
of a tangible product is not something that
2.5
2
text text easy. Since
is very text text one cantext
feel ortext
try out
1.5
text
mosttext products are text text text text
before paying for it.
1 countable, touchable,
0.5 text
and textvisible, a text text text text
text text
0
consumer
2019 2020
can assess
2021
text text text text
its durability by
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examining it.
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4.5 PRODUC SERVICES EXPERIENCES

4
3.5
T
SUBTITTLE
3 A product is a While a Experiences on
2.5 tangible item service is an the other hand,
2
that is put on refer to the
1.5
intangible overall experience
1
market item, which that a customer
0.5 acquisition, arises from the has when using or
0 attention,
2019
or
2020 2021 output of one interacting with a
consumption.
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individuals.
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