Value Pricing – A Tough Decision
This activity requires students to determine a price solely based on what value the product generates for the customer. As there are only insignificant variable costs involved, what price is right?
needs
Talk Benefits, Not Features
Consumers buy a product solution (the benefits) for their need/problem. In promotional communications, it is important to communicate benefits – not features! In this activity, students will convert features into benefits.
Changing Product Attributes – A Good Idea?
This company has an idea to modify the attributes of its existing product. The goal is to try and increase sales. However, there is a risk that sales could actually decrease instead – what do your students think?
Product Design = Mix of Attributes
By changing a product’s mix of attributes you effectively create new products, which may provide a unique solution. In this activity, students modify the mix of attributes for a table, in order to meet different needs.
Designing a Product’s Augmentation
In this activity for a banking ‘club”, students need to determine what would be the appropriate level of augmentation for each of the club’s elements.
Does Product Augmentation Provide Value?
Students choose between sets of competitive product offerings. One of the choices is more heavily augmented. How important is the augmented product in the decision? Are students willing to pay more?
How to Classify Product Levels
The task in this activity is to classify the offerings of a computer retailer into core, actual and augmented product levels.
A Product Meets a Need
A product should meet a need or provide a solution for a consumer. In this activity, students identify the consumer’s need and/or identify the product solution.
Using Motivation Theories
For this activity, students need to identify different ways of motivating (using Maslow’s theory) consumers to buy a smart phone and to visit a restaurant.
