Product modification: Difference between revisions
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'''[[Product]] modification''' is an important '''[[product strategy]]''' which refers to the value adding modifications to already existing products, mostly in mature markets. Referring to the [[product life cycle]], the accurate moment to make modifications in already existing product is in the stage called "maturity"<ref>(Sharma, S., (2016)., s.252)</ref>. This [[strategy]] may be only an element in more complex strategies called '''[[Production management]]''' or '''[[Lean product development]]'''. | '''[[Product]] modification''' is an important '''[[product strategy]]''' which refers to the value adding modifications to already existing products, mostly in mature markets. Referring to the [[product life cycle]], the accurate moment to make modifications in already existing product is in the stage called "maturity"<ref>(Sharma, S., (2016)., s.252)</ref>. This [[strategy]] may be only an element in more complex strategies called '''[[Production management]]''' or '''[[Lean product development]]'''. | ||
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==Footnotes== | ==Footnotes== | ||
<references /> | <references /> | ||
{{infobox5|list1={{i5link|a=[[Value innovation]]}} — {{i5link|a=[[Potential product]]}} — {{i5link|a=[[Core process]]}} — {{i5link|a=[[Concept engineering]]}} — {{i5link|a=[[Customer driven]]}} — {{i5link|a=[[Strategic position]]}} — {{i5link|a=[[Incremental innovation]]}} — {{i5link|a=[[Simultaneous engineering]]}} — {{i5link|a=[[Product research]]}} }} | |||
==References== | ==References== | ||
Revision as of 00:40, 18 November 2023
Product modification is an important product strategy which refers to the value adding modifications to already existing products, mostly in mature markets. Referring to the product life cycle, the accurate moment to make modifications in already existing product is in the stage called "maturity"[1]. This strategy may be only an element in more complex strategies called Production management or Lean product development.
The key marketing information to implement this strategy into an organisation are those about customers such as[2]:
- preferences
- buying habits
- lifestyle habits
Without those 3 important elements, product modification may be difficult to arrange because customer's needs are not known. There is also one specific way of product modification which is made to encourage people do something, for example to stop smoking[3]. Is shows that not only advantages for companies are important.
Example of Product modification
Product modification can be done through several methods, including:
- Adding features: Adding features to a product, such as more storage or a more powerful processor, can improve the product's performance and value.
- Removing features: Removing features from a product can reduce its cost and make it more suitable for certain use cases.
- Replacing components: Replacing components such as motors, batteries, or displays can improve the product's durability and usability.
- Refining design: Refining the design of a product can make it easier to use and more aesthetically pleasing.
Product modification is an important part of product development and can involve several methods. For example, modifying a laptop by adding more RAM and a faster processor, removing certain features to reduce cost, replacing the battery for improved longevity, and refining the laptop’s design to make it more aesthetically pleasing, can all be done through product modification. This type of modification can increase customer satisfaction, reduce costs, and improve the product's performance.
Product modification can have a variety of benefits, such as increasing customer satisfaction, reducing costs, and improving the product's performance. It is an important part of product development and should be done with care to ensure the best results.
When to use Product modification
Product modification is often used when a product needs to meet certain requirements or when a product needs to be improved for any reason. It can be used to add features and make the product more valuable, or to remove features and make the product more cost-effective. It can also be used to refine the product's design to make it more user-friendly, or to replace components to make the product more durable. Product modification can also be used to update the product with new technology, or to make the product compatible with new systems. In any case, product modification should be done with care to ensure the best possible results.
Types of Product modification
Product modification comes in many forms, including:
- Customization: Customization involves changing the product to meet the specific needs of a customer. This can include adding features, removing features, or changing the design.
- Upgrading: Upgrading involves replacing components or parts of the product to make it more powerful or reliable.
- Re-engineering: Re-engineering involves completely redesigning the product to make it more efficient or easier to use.
In other classification, two types of modifications can be considered from the perspective of marketing information[4]:
- retention type- is focused on loyal customers of the firm and the main goal is to increase the product's attractiveness for them;
- conquesting type- is focused on loyal customers of the competitors firms and this modification allows to increase the product's attractiveness for them.
Product’s characteristics allowed to change
In most situations, marketing managers or product managers are responsible for the changes in existing products. There are 3 main characteristics of a products which may be changed[5]:
- quality modification- it refers mostly to the change in product's durability. There are two ways of quality modifications. Firstly, reducing quality of a product to decrease price and to reach new group of people who are not able to buy an original product. The second way is to increase quality to compete with other, rival firms. It is also a good way to build brand loyalty and it gives an opportunity to raise prices if needed;
- functional modification- in this case more focus in paid to the product's versatility, effectiveness safety and convenience as well;
- style modification- the last product's modification is combined with aesthetic product change. This way is more connected to the visual side of the product rather than quality or functionality.
Steps of Product modification
The process of product modification involves several steps, including:
- Defining the scope of modification: The scope of modification should be defined to ensure that the desired results are achieved.
- Analyzing the current product: The current product should be analyzed to identify areas of improvement.
- Designing the modifications: The modifications should be designed to meet the desired requirements.
- Testing the modifications: The modifications should be tested to ensure that they meet the desired performance and quality requirements.
- Implementing the modifications: The modifications should be implemented to ensure that they are integrated into the product properly.
Advantages of Product modification
Product modification can provide several advantages, such as:
- Increased customer satisfaction: Modifying a product to meet customer needs can increase customer satisfaction, leading to more sales and loyalty.
- Reduced costs: Modifying a product to use cheaper components or simpler designs can reduce costs, making it more competitive in the market.
- Improved performance: Modifying a product to use more powerful components or a better design can improve its performance and make it more attractive to customers.
Limitations of Product modification
Product modification can be a powerful tool, but there are also some limitations that should be considered before embarking on the process. These include:
- Compatibility issues: Modifying a product may create compatibility issues with existing components or systems.
- Time and cost: Modifying a product can be time-consuming and expensive.
- Risk of failure:Modifying a product carries a risk of failure, which can lead to customer dissatisfaction, reduced sales, and increased costs.
Despite these limitations, product modification is a valuable tool for improving products and meeting customer needs. It should be done carefully, with consideration for the potential risks and costs involved.
Other approaches related to product modification include:
- Customization: Customizing a product to meet a customer's specific requirements can improve customer satisfaction and increase sales.
- Reverse engineering: Reverse engineering a product can help identify potential improvements and reveal any weaknesses that need to be addressed.
- Modular design: Modular design can allow for easier customization and make it easier to add or remove features.
These approaches can be used to modify products and make them more suitable for a particular use case or market. They can also help to extend the life of a product and ensure its continued success. Product modification is an important part of product development and should be done with care to ensure the best results.
Footnotes
| Product modification — recommended articles |
| Value innovation — Potential product — Core process — Concept engineering — Customer driven — Strategic position — Incremental innovation — Simultaneous engineering — Product research |
References
- Iyer, G., Soberman, D., (2000)., Markets for Product Modification Information, "Marketing Science", Vol.19,No.3
- Lamb, Ch., Hair, J., McDaniel, C., (2009)., Essentials of Marketing, "South Western Cengage Learning"
- * Sharma, S., (2016).,Product Life-Cycle Management : Concept and Stages, "Indian Journal of Research", Vol. 5, Issue 10
- Waller, R., Froggat, P., (1996)., Product modification, "British Medical Bulletin", No. 1:193-205
Author: Rafał Gamrat
