F108MAN Product Development

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The role of the product cycle in order to satisfy business objectives

Distinguish between products and services

Traditionally production management is the provision of goods in the manufacturing process

the provision of turning raw materials and components into a finished product to satisfy a company's customers and potential customers

Tangiable and intangiable products

the tangiable product, the raw material and components used in production i.e. a mobile phone

with the intangiable product replace the raw material and components with knowledge and experience i.e. a financial advisor a surveyor.



batch production

mass production

they do function autonomously, managers/boards are accountable for policies and performance to meet required standards and is a form of commercial accountability and is prerequiste in profit based institutions.

Commercial decisions bring about social benefits and costs

Social obligations

the legal regulations that are expected to be complied with i.e. Health & Safety

Duties lie beyond legal requirements

location is still a valid influence on Production systems

there is a massive expansion of the service industries, seen a reduction of the smaller professional practices

  • responsible for employing increasing number of qualified professionals

MARKETING Definition

The Management function which organises and directs all those business activities involved in assessing and converting customer purchase power into effective demand for a specific product or service to the final consumer so as to acheive the profit target or other objectives of the organisation

marketing is continous due to environmental change, and customer demand.

Companies will have a marketing plan


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