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In this section we will analyze the product in relation to marketing. In order to carry out an efficient, complete and adequate product research, we should bear in mind two mandatory and simultaneous perspectives: supply and demand. Both perspectives of analysis must be simultaneous since not only they are equally important but also we will achieve a useful research if we jointly think of them. In order to make this reading simpler, we will point out the following: every time you come across the word «product» you should read «product or service». We decided to avoid this explicit distinction to facilitate the reading.

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We will start with the supply perspective. We will analyze the product’s features, advantages, flaws, utility, action range, quality, presentation ?though briefly since this corresponds to advertising?, functioning, durability, etc. That is to say that we will examine the product in itself and as a separate subject of study. This phase will correct all the product’s flaws and enhance its features. Marketing experts will have a passive role in this phase, since it is a technical search, not a commercial one. A proper analysis of the product on its objective elements will undoubtedly allow us to carry on with the following steps of the marketing process with success. As an example we can point out a company which manufactures toys for children. Before commercializing the products, the company will verify, among other things, that the toy is safe, that it cannot be broken into pieces, that it is not toxic, etc. This type of analysis is called «objective» since it is not its goal to satisfy the needs of a given target group, but to avoid flaws or mistakes that our common sense points out as harmful for consumers and for the product’s sales.

In the demand perspective, marketing experts take action. In this phase, we will focus on gathering potential clients’ intentions, desires, needs, likes, fantasies and goals. The first step is to recognize the target group, the group to which the product is aimed at, due to it usage and purpose. Once we have a viable target group, we will begin to analyze which are the needs, likes, etc. that the product covers. We will state that many times demand determines the product in such a way that manufacture is not done without knowing beforehand what you want. A product that does not take into account consumers’ needs will fail, except for one thing (an exception that we will discuss in detail later on in the sections called Advertising and Promotion ?the exception that the market generates need.) Experts in marketing, by emphasizing their specialty on the market research, will examine the public’s interests and from these researches they will suggest changes to be made on the product so that it can conform, as much as possible, to those needs.

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