Final Project: Product

Creativity of the product is extremely important to our company, which is why we rolled with the 'nacho' idea. It is different, unique and overall fun."Product Features.

A product can be offered with varying features. A stripped-down model, one without any extras, is the starting point. The company can create higher-level models by adding more features. Features are a competitive tool for differentiating the company’s product from competitors’ products. Being the first producer to introduce a valued new feature is one of the most effective ways to compete." Marketing: An Intro, Armstrong/Kotler, page 215. A key strategy that will help us stay afloat, especially in the first year of production is the creativity aspect of our product. For the future we already have ideas drawn up for holiday specific versions of the 'Choco-Nachos'. At first it will be the original style, and with success hopefully it will allow us to grow and implement our new creative ideas into future lines. Our internal ideas are already a core part of our development but we will accept all ideas from all sources, the more ideas the better. Sometimes it helps to have a third party look at something because without that external view, you could skip on details that did not catch your eye. "Companies can also obtain good new-product ideas from any of a number of external sources. For example, distributors and supplierscan contribute ideas. Distributors are close to the market and can pass along information about consumer problems and new-product possibilities." Marketing: An Intro, Armstrong/Kotler, page 247.