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Today, fierce competition practically demands the former, the latter and more, so start by considering ways to implement a strategy for product standardization to keep pace.
Basically, standardizing a line of products is an efficient method to reduce costs and increase quality. By minimizing the differences in your products, such as by making them interchangeable, you are able to rapidly increase production, streamline distribution, decrease raw material costs and reinforce product branding.
The best product standardization strategies allow you to balance the need for targeted adaptation with the cost savings of standardization. Standardize all Components By standardizing the basic components of all your products, you can expand your market area; Consider how universal components hook together across the nut and bolt industry, widening global sales.
Look at your product line and determine where you can create similar component sections across several products. If necessary, modify your products so similar components can be used. For example, if you produce light fixtures, standardize the socket and ceiling attachment mechanisms across all your products.
Make your product according to standards that designers use when designing different models.
Not only will you save on production costs, you can standardize installation instructions and decrease testing costs. When you have a high number of similar components, you can quickly introduce new products to the market to capitalize on changes in customer preferences.
Tweak the Packaging You wouldn't start selling your brand of toothpaste in zip bags for obvious reasons, but slight changes in packaging can help you standardize your product offers globally.
Without needing to make changes to your actual product, you can alter your product packaging to boost brand recognition, appear trendier or reflect differences in legal requirements such as warnings, language, promotions and branding. Products shipped to international destinations may also require additional protection against moisture, extreme temperatures and harsher sales conditions.
For example, if you sell candy in the U. Video of the Day Brought to you by Techwalla Brought to you by Techwalla Vary Your Quantities Selling a standardized product in different quantities can expand your customer base and boost your bottom line.
For instance, your product could appeal to a wider target if it's sold in large packages for warehouse stores and small packages for international markets. Many customers outside the U. You can take advantage of product standardization savings by selling different quantities in different marketing channels; Think about direct local marketing, as with a pizza stand at a college, or indirect marketing, such as by advertising pizza-party catering on college social media sites.
Consider selling your product in different quantities in the same store to capitalize on consumers that want a volume discount. For example, if you sell potato chips, sell a snack-size package and a family-size package.
Product standardization may not seem easy to implement, but with diligent effort, you can keep up with your competitors or fingers crossed surpass them.Application of Systems Engineering to Systems of Systems. Systems of systems (SoS) systems engineering (SE) deals with planning, analyzing, organizing and integrating the capabilities of new and existing systems into a SoS capability greater than the sum of the capabilities of its constituent parts.
Standardization of product is the approach for increasing commonality of product in the supply chain management. 6) Economics of Scale Unique aspects in product result in different in quality thus increasing cost of production and lower economies of scale.
Since , SecuControl USA has been an active and attentive member of the protection, automation and control community in the US. Our FTL, STS and DOC product lines have been specifically designed to meet the requirements of the US market.
Quotes. What information consumes is rather obvious: it consumes the attention of its recipients.
Hence a wealth of information creates a poverty of attention, and a need to allocate that attention efficiently among the overabundance of information sources that might consume it.
Product adaptation is the changes and special modifications are made in order to adjust to each market. Adaptation is a marketing strategy where new products or services are modified based on existing products and services.
the first element of the marketing mix to be adapted, followed by promotion, product and distribution. This research also analyze degrees of adaptation to be applied to different segments, regions, and sectors, among other suggestions.