Definition: A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual or cyber form. Every product is made at a cost and each is sold at a price. The price that can be charged depends on the market, the quality, the marketing and the segment that is targeted. Each product has a useful life after which it needs replacement, and a life cycle after which it has to be re-invented. In FMCG parlance, a brand can be revamped, re-launched or extended to make it more relevant to the segment and times, often keeping the product almost the same.
Description: A product needs to be relevant: the users must have an immediate use for it. A product needs to be functionally able to do what it is supposed to, and do it with a good quality. A product needs to be communicated: Users and potential users must know why they need to use it, what benefits they can derive from it, and what it does difference it does to their lives. Advertising and 'brand building' best do this.
A product needs a name: a name that people remember and relate to. A product with a name becomes a brand. It helps it stand out from the clutter of products and names.
A product should be adaptable: with trends, time and change in segments, the product should lend itself to adaptation to make it more relevant and maintain its revenue stream.
Three altcoins to grab before Bitcoin price goes parabolic in Q4Crypto investors diversify portfolios in Q4 to brace for a potential bull market. Bitcoin has shown promising jumps in previous years, while altcoins like Crypto All-Stars, Memebet, and Pepe Unchained offer innovative solutions and investment opportunities. These projects stand out with unique features, presale benefits, and high APYs to attract investors.
Investor sells 8.45% holding in R Systems for Rs 465 crore; Goldman Sachs picks up stakeInvestor Bhavook Tripathi on Friday trimmed its stake in R Systems International by divesting an 8.45 per cent stake to investors like Goldman Sachs, DSP Mutual Fund (MF), and Sundaram MF for Rs 465 crore through open market transactions. After the stake sale, Tripathi's holding has come down to 20.58 per cent from 29.03 per cent.
Interarch Building Products Q1 net profit up 5 pc to Rs 20.3 crInterarch Building Products Ltd has reported a 5 per cent increase in consolidated net profit at Rs 20.3 crore for the quarter ended June. Its net profit stood at Rs 19.4 crore in the year-ago period.
Persistent growth momentum to continue as JM Financial sees 13% upside potentialJM Financial forecasts a 13.4% upside for Persistent Systems (PSYS) with a target price of Rs 6,030, citing strong deal wins and stable revenue momentum. Expected to achieve a 15.5% EBIT margin by FY25, PSYS shows promising medium-term growth.
Korean brand Daewoo enters home appliances segment to expand share in Indian marketKorean brand Daewoo has announced its entry into the kitchen and home appliances segment in India. The company, which already offers LED TVs and inverters, will now introduce products like induction plates, mixers, blenders, and more. Daewoo aims to expand its presence further into Southern and Eastern India.
HC seeks Centre's stand on plea over "misbranding" of Patanjali productThe Delhi High Court has asked the Centre to respond to a plea seeking action against Patanjali’s "Divya Dant Manjan" for misbranding it as a vegetarian product despite containing fish extract. The petitioner highlighted the distress caused due to religious beliefs and urged for transparency in product labeling. The next hearing is set for November.