Types of Product Modification:
the object of product modification is either to stimulate new sales or to attract new users. In the case of a firm with an uneven new product line, modification can be justified as a viable alternative to developing new products. This approach is less expensive and often shows a high rate of success. The modifications are generally grouped into the following categories.
1. Functional Changes:
All changes which make the product work better or satisfy additional needs are known as functional changes. Sometimes, the right change can bring a big jump in the product sales. While proposing functional changes, a company should consider the cost of changes and whether the changes will appeal to a broad segment of the market.
2. Quality Changes:
A product quality can be changed either by introducing changes in the materials from which it is constructed or by modifying the engineering process. There are two types of quality changes:
i) Upgrading : When the quality of product is made more attract a more sophisticated market, it is known as upgrading.
3. Style Changes:
When the appearance of the product is changed, it is known as style change. Although changes is style have no effect on the performance of a product, they often have visible effect on the reaction of the consumers.
4. Environmental-Impact Changes:
Such changes are generally carried-out on account of the consumers pressure or the firm's commitment to social responsibility. These changes either improve a product's safety or lessen its impact on the environment.
the object of product modification is either to stimulate new sales or to attract new users. In the case of a firm with an uneven new product line, modification can be justified as a viable alternative to developing new products. This approach is less expensive and often shows a high rate of success. The modifications are generally grouped into the following categories.
1. Functional Changes:
All changes which make the product work better or satisfy additional needs are known as functional changes. Sometimes, the right change can bring a big jump in the product sales. While proposing functional changes, a company should consider the cost of changes and whether the changes will appeal to a broad segment of the market.
2. Quality Changes:
A product quality can be changed either by introducing changes in the materials from which it is constructed or by modifying the engineering process. There are two types of quality changes:
i) Upgrading : When the quality of product is made more attract a more sophisticated market, it is known as upgrading.
ii) Downgrading: On the other hand, downgrading, the quality of products involves lowering the price of the product to serve lower income groups.
3. Style Changes:
When the appearance of the product is changed, it is known as style change. Although changes is style have no effect on the performance of a product, they often have visible effect on the reaction of the consumers.
4. Environmental-Impact Changes:
Such changes are generally carried-out on account of the consumers pressure or the firm's commitment to social responsibility. These changes either improve a product's safety or lessen its impact on the environment.
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