The Three Major Components of a Product - Article Example

The Three Major Components of a Product Product and its components: There are three most important components of a product. These three major components of a product are related to notions, such as product designing, product operations, and cost of the production process. The notion of product designing is related to the overall design or structure of the product. For instance, if the product is a car, then product designing signifies the design, shape and structure of the car (Kaufman and Woodhead, 2006, p.163). The concept of product operation includes product marketing, sales of the product and the also the process of checking of the level of customer satisfaction generated from the consumption of the product (Slater and Narver, 1994, p.22). The notion of ‘cost of production’ deals with the overall expenses which have been made by the production house in producing the particular product (Kaufman and Woodhead, 2006, p.

164; Essential Components of RTI – A Closer Look at Response to Intervention, 2010, p.2).Importance of product adaptation: To understand the perceived complexity of tailored as opposed to standardised products, one need to understand how different cultural influences concur with the perceived value as well as the importance known to a product or service by the market. A product, in this context, is more than the physical element and it is regarded as a package of different rewards and/or utilities that the buyer gets.

These aspects include the shape, the flavor, the color, the smell and also the texture of the product. Also aspects like how the product works, the packaging, the labeling, and the security are closely related to these aspects. Along with these aspects the service manufacturer and the retailer, the level of confidence or status enjoyed by the particular brand, the level of reputation of manufacturers, of a country of origin, or any other representative utility expected by the possession and/or use of that product.

Considering a product mainly for the second market, the amount of adjustment which is required largely depends on the cultural differences as well as the perception of the market where these products were originally developed. The greater the level of cultural differences between these two markets, the higher the level of adaptation of the product that will be necessary (Barbu, n.d., p.109).The cases of American product: One of the most important American products which has been changed to a great extent in the context of the increasing the volume of sales in the foreign market has been showing programs on the TV channel MTV.

These programs have been changed radically to incorporate the global cultural, social and economic aspects. Also aspects related to the patterns of choices of global viewers have been incorporated into these aspects. The most important reason for this change has been to increase the popularity and number of viewers or profit margin of the channel (Galeota, 2004, pp.22-23). Again in case of the cultural changes which have been made in respect to the US products has been related to the situation where products related to Internet services have been changes.

In this case, Internet services products have been changes to incorporate the cultural aspects prevailing in the foreign markets. These aspects include the cultural structure, norms, cultural rules and regulations of different countries (Rothaermel et al., 2006, p.56). In this case also, these products have been culturally modified to increase the profit margins of companies which are producing these products.References:Barbu, C. M. (n.d.), CULTURAL ADAPTATION OF PRODUCTS, University of Craiova, retrieved on April 26, 2012 from: http://www.mnmk.ro/documents/2011/9_Barbu%20FFF.

pdf Essential Components of RTI – A Closer Look at Response to Intervention, (2010), National Center on Response to Intervention, retrieved on April 26, 2012 from: http://www.cldinternational.org/Articles/rtiessentialcomponents.pdf Galeota, J. (2004), Cultural Imperialism: An American Tradition, HUMANIST ESSAY CONTEST WINNERS, retrieved on April 26, 2012 from: http://www.thehumanist.org/humanist/articles/essay3mayjune04.pdf Kaufman, J. J. and Woodhead, R. M. (2006), Stimulating Innovation in Products And Services: With Function Analysis And Mapping, USA: John Wiley & SonsRothaermel, F. T. et al., (2006), International Market Entry by U.S. Internet Firms: An Empirical Analysis of Country Risk, National Culture, and Market Size, Journal of Management, Vol.32, No.1, pp.

56-82Slater, S. F. and Narver, J. C. (1994), Market orientation, customer value, and superior performance, Business Horizons, retrieved on April 26, 2012 from: http://academics.eckerd.edu/instructor/trasorrj/Consumer%20behavior/Consumer%20Behavior%20Articles/Value/Market%20Orientation.pdf