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LEARNING OBJECTIVES
After reading this chapter, you should be able to:
- look at the meaning of the term "product" from three different perspectives: the manufacturer, the consumer, and the public
- understand the three levels inherent in all products
- learn the classification systems that are used to identify products and suggest appropriate marketing strategies
- clarify the difference between goods, products, and service products
- study some of the processes involved in product planning and strategy formulation: determination of product objectives and identification and resolution of factors that have an impact on the product
- understand the eight steps that makeup the new product development system
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