The Three Major Components of a Product Article Example | Topics and Well Written Essays - 500 words

The Three Major Components of a Product - Article Example 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). To understand the perceived complexity of tailored as opposed to standardized products, one needs 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 of 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 secondary market, the amount of adjustme nt 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). One of the most important American products which have 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.