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AIESEC XP Product Packaging
1.Products in general
2.AIESEC Product
3.Examples of product packaging
4.Product Development exercise
5.Wrap up
"In marketing, a product is anything that can be offered to a market that might satisfy a want or need of a customer "
Tangible and Intangible Products
Commodity and experience providers
In business and engineering, new product development (NPD) is the term used to describe the complete process of bringing a new product or service to market.
There are two parallel paths involved in the NPD process: one involves the idea generation, product design, and detail engineering; the other involves market research and marketing analysis. Companies typically see new product development as the first stage in generating and commercializing new products within the overall strategic process of product life cycle management used to maintain or grow their market share.
8 steps of Product Development Process
The screeners should ask several questions:
Testing the Concept by asking a sample of prospective customers what they think of the idea
in order for product to evolve, there is the need to invest resources in the product, even if the sales rate is low
demand has to be created for the product; limited competition
Profitability and public awareness start to rise
competition is increasing
Signal: Market saturation is reached
Need for price competitiveness
there is the need for diversification of the product and brand differentiation
Signal: Sales volume decrease or stabilize
The beginning of a curve relates to the birth of new market opportunity, while the end of the curve represents the obsolescence of the product, service, or technology in the market.
The top reasons for missing S-Curve shifts include:
• Not focusing on or investing in the new
technologies and markets
• Not effectively defending an existing business and technology
• Cultural inertia that hinders the ability to play two games at once (e.g., managing the
existing business while investing in and driving
the new)
• Lack of Industry Foresight, Customer Insight,
or the organizational support and processes
(Strategic
How old? How many hours of class do they have per week? Do they work part time? Where do they work? What are their friends studying? Where do they hang out on campus? Do their parents influence their decisions? Do their professors have an influence on their decisions? What does their Facebook profile look like? Where do they shop and what do they spend their money on? What do they use to communicate – e-mail, texting, calling, or something else? Have they volunteered in the past? If yes, with whom? Do they already know about AIESEC? If yes, what do they know? How willing are they to change their habits/behaviours?
What business are they in? What is the average number of employees in this kind of company? Who are they trying to hire (academic/working backgrounds of hirees)? What tools do they use to hire? Do they hire mostly on contract, or long-term? Who makes hiring decisions? Do they participate at career fairs? Are they partnering with universities? Do they have an internal mobility program? Do they already know about AIESEC? If yes, what do they know? How willing are they to change their habits/behaviours?
What’s in it for them when they offer funding? How big is their budget? Who else are they funding? What topics are of interest to them – local, national, regional, global? What reporting and measurement do they expect from fundees? How much control/overview to they require over funded projects? Have they funded youth-driven initiatives in the past? How long are the projects they fund? Do they already know about AIESEC? If yes, what do they know? How willing are they to change their habits/behaviours?
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