WHAT WOULD YOU SELL?
What products do you think
should be sold through the
Spirit Box?
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
PRODUCT
A good, service, or idea that is created as a result
of a process and satisfies a want or need.
o Products can be goods or services:
• Goods are tangible
• Services are intangible
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
FEATURES & BENEFITS
• Features are attributes of a product.
• Benefits are the advantage or value of that
attribute to the customer.
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
EXAMPLE
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
PRODUCT DEVELOPMENT
The creation of products with new or different
characteristics that offer new or additional
benefits to the customer.
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
CREATING NEW PRODUCTS
• Developing a new, innovative or original idea to
fulfill customer needs or wants.
• Products with different characteristics involves
modifying or changing an existing product to
meet a need or want of the target market.
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
CHECK POINT
• Explain Target Market.
• Why are new products based around customer
needs/wants?
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
PRODUCT DEVELOPMENT &
AUTOMATED RETAILING
What things might be different in automated
retailing from traditional
product development?
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
CASE STUDY
“ZoomShops Taking Flight in
Airports and Beyond”
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
PRODUCT OPPORTUNITIES
• Product Opportunity Gap “POG”—occur when there’s
a gap between what is currently offered in the market
and the opportunity for new or modified products as a
result of emerging trends.
o Products successfully fill this gap when they meet
customer expectations and are perceived as useful
and desirable.
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
EXAMPLE
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
IDENTIFYING PRODUCT
OPPORTUNITIES
1. Conduct market research to identify need or
gap.
2. Evaluate the current market.
3. Identify the current problem.
4. Determine how to solve the problem.
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
ACTIVITY
Identify a product opportunity gap for the
automated kiosk (Spirit Box).
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
TECHNIQUES TO GENERATE
PRODUCT IDEAS
1.
2.
3.
4.
5.
Involve everyone in generating ideas
Involve customers in the process
Involve customers in new ways
Involve new customer groups
Involve suppliers
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
ACTIVITY
Develop a template for an online suggestion box
for SBE employees and a template for an online
discussion board for customers.
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
ACTIVITY
Revise your automated retail product selection list
from the Bell Ringer based on the information from
this lesson. Identify the criteria by which you
selected those products.
Fill in your products on the plan-o-gram.
IMPLEMENTING AUTOMATED RETAIL: PRODUCT
QUIZ
Concept of Product and Product Development in
Automated Retail
IMPLEMENTING AUTOMATED RETAIL: PRODUCT