3. What stages of product development do you know?
I know the following stages of product development:
Generate new ideas in focus groups and brainstorming meetings.
Screen out unfeasible or unprofitable ideas.
Draw up specifications for the product.
Draw sketches and build mockups.
Conduct market studies to test the concept.
Beta test the product by users in typical situations.
Go into production.
Launch the product.
1. What does the term product refer to?
Product is one of the famous “4 Ps” of marketing and promotion. In the past, when business people talked about ‘products and services’ the term product referred only to manufactured goods. Nowadays the distinction between a product and a service is increasingly blurred, so that a bank can offer “financial products” and a manufacturing company can offer a service.
2. What should sales staff know about the finished product?
When the finished product is finally on the market, sales staff will need to know:
its functions (what it does)
its features (selling points)
its customer benefits(how the features and functions make the customer's life easier)
improvements that have been made (in what ways it's better than previous models)
possibilities for customization
how it compares with competitors' products
3. Why is packaging so important? = What are the functions of packaging?
Business Vocabulary in Use
1. What are the famous ‘4 Ps’ of marketing? (u.22-25)
The four Ps are product, price, place, promotion.
-product - deciding what to sell
-price - deciding what prices to charge
-place - deciding how the product will be distributed and where people will buy it
-promotion – deciding how the product will be supported with advertising, special activities, etc.
A fifth P which is sometimes added is packaging-the materials used to protect and present a product before it is sold.
The four Ps are useful summery of the marketing mix- the activities that you have to combine successfully in order to sell.
2. How can companies help interns to adapt to their work culture?
Internship is a really important and difficult period of time for students, because it’s the first experience of working in the specialty. Student doesn’t know any details of this process, so a self-respecting company should appoint a mentor to look after an intern. A mentor is one of the staff, who will help intern.
First of all mentor should tell the intern about unwritten rules. They include moral principles, organizational culture, and acceptable behavioral norms between staff. Moreover mentor should tell about company’s structure and attitude to time, working time.