Every Successful company that is at the top of the food chain had brand product/services that were really flourishing which led to the extension of many different product/services, sometimes a whole brand new product totally different from its first one. As we know a “product may be defined as everything, both favorable and unfavorable that a person receives in exchange. A product may be a tangible good like a pair of shoes, a service like a haircut, an idea “ don’t litter,” or any combinations of these three” (McDaniel 274). There are many types of products that companies and entrepreneurs sell to its markets. There are four type of products which are convenience products, shopping products, specialty products, and unsought products. Many business have only one this type of products others have all or a combination of this type of products.
Nike is an example of a Company who started it out with a main product and then flourished to many other types of product that we know today. Nike originally started with only Track and field, and now is the number one sports brand in all sports in the world. Nike when it started as mention made only sneakers for track and field, but it was so successful that it started to create products for all sports, also they went on to clothing as well. Nike has all four types of products for all types of customers. Nike does not only reach to athletes but also to everyday people who don’t play sports, there line of diverse products that Nike has to offered will have almost everyone purchasing something. As you can see when a business has a tremendous product/service, the business can take the chance with proper research and launch another product/service to the market. Also if the market views the brand of the product as reliable of the best in the market, making another product/service would not be a bad idea so the business can expand and make more profit
No comments:
Post a Comment