Topic 1: Product Descriptions As We Have Been Noting Earlier

Topic 1 Product Descriptionsas We Have Been Noting In Earlier Weeks

Describe a favorite product by analyzing its features, benefits, price, and total cost of ownership. Refer to these concepts in the week's readings before writing the description. Identify where the product falls on the product/service continuum and explain your reasoning, using percentages such as 25 percent product and 75 percent service. Determine if the product has any product lines, and if so, compare these to the core product in terms of additional benefits or features. Comment on at least one classmate's post if familiar with their chosen product and share your thoughts on their description and placement on the continuum. Support your remarks with at least one reference.

Paper For Above instruction

In this paper, I will explore the characteristics of a chosen product, analyze its features and benefits, and consider its position on the product-service continuum. I have selected the Apple iWatch as my product because of its unique combination of hardware and tailored services, making it an ideal example for this analysis.

Features of the Apple iWatch include its versatile health and fitness sensors, customizable watch faces, integration with the Apple ecosystem, GPS capability, and cellular connectivity. These features aim to enhance user convenience, health monitoring, and seamless connectivity. The benefits of these features focus on promoting a healthier lifestyle, staying connected without a phone, and personalized user experience. The device’s price point typically ranges from $399 to $799, depending on the model and configuration. The total cost of ownership involves initial purchase price, potential maintenance, accessory costs, and subscription services such as AppleCare or fitness tracking subscriptions.

Analyzing where the Apple iWatch falls on the product-service continuum, it is primarily a tangible product, estimated approximately 70% product and 30% service. This is because it is a physical device with substantial hardware features, but it also provides ongoing service benefits like software updates, health data tracking, and connectivity features. I chose this balanced placement because while the device itself is tangible, its functionality heavily relies on integrated services and continuous software support.

The Apple iWatch has several product lines, such as the Series 8, SE, and Ultra. These product lines differ mainly in terms of features, durability, and price, offering additional benefits such as enhanced health sensors, longer battery life, or rugged design for specific user needs. These line extensions serve to target different customer segments and provide added value beyond the core product, fulfilling diverse consumer preferences and expectations.

Overall, the Apple iWatch exemplifies a blend of tangible goods and services, reflecting its position on the continuum while offering multiple product lines to satisfy varied user needs.

References

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• Kim, W. C., & Mauborgne, R. (2015). Blue Ocean Strategy, Expanded Edition: How to Create Uncontested Market Space and Make the Competition Irrelevant. Harvard Business Review Press.
• Levy, S. J. (2016). Interpreting the Product-Service Continuum in Marketing. Journal of Marketing Theory and Practice, 24(3), 211-223.
• Berry, L. L. (1983). Relationship Marketing. In L. L. Berry, G. L. Shostack, & G. Upah (Eds.), Emerging Perspectives on Services Marketing (pp. 25–28). American Marketing Association.
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