Webb5 aug. 2024 · The starting point of marketing process of any organisation is the decision about product, which it wants to cater to the target customers. Apart from fulfilling the needs and wants of the consumers, a product is also an essential factor which acts as the source of profit for the organisation. WebbProduct lines are often part of a marketing strategy. Companies keep adding more products to attract buyers. Specifically, they want to attract buyers who are familiar with the brand. A marketing strategy exists …
PRODUCT DECISION IN MARKETING - SlideShare
Webb11.3 Types of Products 11.4 Marketing Strategy for different types of Products 11.5 Product Line Decision 11.6 Diversification 11.7 Summary 11.8 Key Words 11.9 Self-assessment Test 11.10 Further Readings 11.1 INTRODUCTION Product related decisions form one of the 4Ps of marketing mix. These decisions include introduction of new … Webb24 juni 2024 · Line extensions refers to the process of expanding an existing product line. This is when a company with an established brand introduces additional items in a product category. The company uses the value of the existing product to market and introduce new choices to consumers. The goal of line extension is to satisfy a refined customer … electronic medical assistant ema
Wendy Moores - Head of Marketing, Direct Line - LinkedIn
WebbA product strategy improves your team’s tactical decisions. No organization delivers a product to the market following the exact plan drafted in the initial roadmap. Things change along the way, and product managers need to be prepared to adjust their plans and priorities to deal with those changes. WebbObtain target market share. Penetration in market. Introduction in new markets. Obtain profit in whole product line irrespective of individual product profit targets. Tackle competition. Recover investments faster. Stable product price. Affordable pricing to target larger consumer group. Pricing product or services that simulate economic ... WebbAccording to Philip Kotler and Armstrong, “A product line stretching occurs when a company wants to lengthen its product lines beyond its current line” For instance, Apple offers and sells high-quality smartphones in the mobile phone market. It’s product line stretching whenever Apple launches a new model of the smartphone (basic, standard, … football colouring in pages