Product (business)

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A product produced as a product or service is an important concept in business. There are different definitions and different types of products.

• 9.1 Technical Description
• 9.2 Commercial product description
• 9.3 use -related product description
• 9.4 Maintenance and repair related product description
• 9.5 Marketing -Oriented Product Description

Transformation -based definition

A product according to production theory, the result (English: output ) of a wrought by human transformation process in which factors of production (English: input, namely: goods, services, energy ) in consideration of knowledge and with the socio-cultural constraints into an output (goods, services, energy, waste ) are converted. In the field of public administration are often found in the form of information products ( administrative act, decision, etc.).

Value -oriented definition

A product is an asset that is created in a value creation process. Assets that go into a production process are referred to in this view, as factors of production or inputs, and are therefore not itself a product.

Supply- Definition

From the perspective of the demander makes a product a means to satisfy needs and thus also to the benefit recovery dar. Inspired by Philip Kotler (1972 ), building on this one distinguishes three different product terms:

• Substantial product concept: the core product as a bundle of physical- technical properties with the aim of satisfying functional customer needs through the physical characteristics of the product.
• Enhanced Product term: the product is seen as a power pack consisting of physical products and / or intangible services, which works to complete satisfaction of functional customer needs to be achieved.
• Generic product term: This term includes all tangible and intangible facets, from which customers can benefit result; this in addition to the functional benefits other benefit categories are taken into account (eg emotional or social benefits).

Christian Homburg and Harley Krohmer define a product as a bundle of characteristics, which aims at the creation of customer value.

Colloquial definition and use in economics

Colloquially product is commonly used interchangeably to produce, general cargo. This view is also reflected in the classical formulation of sectors in Economics: Here is an important branch of the secondary sector ( industry = ) the so-called manufacturing industry.

Product

Commonly used for a physical product is also the word product or finished product: " products are self-contained, consisting of a number of groups and / or parts of functional objects ( eg machinery, equipment) and production final results " (DIN 6789 ). This is also called product structure, product structure, production planning for finished products, etc. For complex products, the product is mapped on multiple levels to reduce the complexity. Not yet functional products in the production process are called as opposed to finished product intermediate products ( in production technology and in the iron and steel industry also: semi-finished or semi-finished product = standing between raw material and finished product product that has yet to undergo further manufacturing steps).

Accruals

Commonly used for a physical product is also the word product or finished product: " products are self-contained, consisting of a number of groups and / or parts of functional objects ( eg machinery, equipment) and production final results " (DIN 6789 ). This is also called product structure or product structure, which must be known for the production planning and control, and for the procurement and logistics. The product structure and the required ingredients that make up the product will be displayed in the BOM or recipe lists. Not yet usable or functional products are called in contrast to the finished product, intermediate products; in manufacturing technology and in the iron and steel industry is also called: semi-finished or semi-finished raw material and finished product = between standing product that has yet to undergo further manufacturing steps.

Mass product

A product which is produced in large numbers or amounts, ie, in mass production, are also referred to as a mass product.

Series product

A product whose different variants are manufactured in series production or their variants are produced in more or less large series lot sizes, is also referred to as a serial product.

Niche product

A product that covers only a small part of the demand in the market as a whole is referred to as a niche product.

Individual product

A product that is made individually for each customer or order, is referred to as an individual product (see Mass Customization ).

Product components

A product is made up of several layered components, which are all use stiftend:

• Core product: consisting of the core properties, which largely determine the functionality of the product.
• Additional Features: Features that generate benefits that is not in the core ( use) function of the product justified.
• Packaging / design of tangible environment: protection of the product, ease of use, ensuring the product transportation, purchasing influence, etc.
• Basic services: those services which the customer expects when buying the product from the manufacturer (eg range of consultancy services).
• Additional services: also referred to as " Value Added Services " are the services, providing the customer with an additional benefit, however, constitute for him no purchase requirement (for example, the cleaning of a car during an inspection).

Types of products

Products can be generally a typology, for example, according to criteria such materiality of power, support the needs or life:

• Material goods consumer consumer goods
• Durables

• Products in the product business
• Products in the investment business
• Products in the systems business
• Products in the supply business

• Consumptive Services continuously created services on a membership
• Continuously created services without a formal relationship
• Occasionally Services created as part of a membership
• Occasionally created services without a formal relationship

• Industrial services
• Pure -investment services

Product Description

The description of a product depends on the one of the product type and the number of product components, on the other, from the technical task which is pursued. Due to the increasing product variety and individualisation and globalization ( languages) has greatly increased the scope and complexity of the product description.

Technical product description

From a technical perspective, a product is described mainly by geometrical information in the form of a technical drawing or CAD data. Include information on the raw material used, the quality of materials, to physical characteristics or chemical composition required - In addition to the geometry data - depending on the product. They also indicate functional properties, especially in electronic control equipment or software, belong to the technical product description. ( s.a. product (technology) )

Commercial Product Description

From a business perspective, a product is mainly described by a unique identification number; one speaks in this Zusammehnag by product definition or Numbering. For simple products, the ID number is often a pure product identifying number. For products with a few variants Erzeugnismmumer this is supplemented by a mostly -classified ( speaking ) number, where for each variant ( eg clothes size or color ), an additional number is required. Particularly varied and complex products are described by a number of features that may be loose or arranged in a certain way. When parent characteristics that meet the requirements of an ideal Boolean algebra, one also speaks of options. Base options describe the basic characteristics of a product (see product core ), while additional options describe the other features (see additional properties). For the description of products is available online from many manufacturers a product configurator, which allows you to choose or select the desired product variant.

Use -related product description

The operation of a technical product is described in an instruction manual, so that the buyer can use this product properly and safely. The handing over of a user manual along with the product is regulated by law in Germany and consulted in the context of product liability to compulsory instruction of the manufacturer.

Maintenance and repair related product description

For long-lasting technical products and systems documentation for maintenance, repair and technical inspection of the product to be created by the manufacturer. These are i.d.R. intended for technically trained staff, as also it is often special service tools and replacement parts are required. Thus, the automobile manufacturers provide for their authorized workshops ( automobile repair shop ) with appropriate repair manuals, maintenance or repair tables brochures to ensure that vehicles serviced according to manufacturer's instructions (see Maintenance ) and repaired (see repair) can be.

Marketing -oriented product description

In order to sell a product in marketing a product description is created, the particular potential customers ( customer groups ) responds mainly the benefits of each product highlights.