Product Planning Involves making decisions about those features that are needed to sell a...
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Product Planning Product Planning Involves making decisions about Involves making decisions about those features that are needed those features that are needed to sell a business’s products, to sell a business’s products, services, or ideas services, or ideas
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Transcript of Product Planning Involves making decisions about those features that are needed to sell a...
Product PlanningProduct PlanningProduct PlanningProduct PlanningInvolves making decisions about Involves making decisions about
those features that are needed to sell those features that are needed to sell a business’s products, services, or a business’s products, services, or
ideasideas
Product MixProduct MixProduct MixProduct Mix
Includes all the different Includes all the different products that a company makesproducts that a company makes
Product Mix• Product width – the number of
different product lines a company has
• Product depth – number of product items offered within each product line
Product Mix Cont.
• Product line – group of closely related products made by a company
• Product item - specific model, brand, or size of a product
Product Development Steps
1. Generating ideas2. Screening ideas3. Developing a business proposal4. Develop product (prototype)5. Test the product6. Introduce the product (Marketing)7. Evaluate customer acceptance
Developing Existing Products
• Line extensions – new product lines, ex. Various lines of Tylenol products
• Product modifications – alteration in a company’s existing products– Ex Coke story
Deleting a Product or Product Line
• Obsolescence• Loss of Appeal• Conflict with objectives• Replacement with newer products• Lack of profit• Conflict with other products in the
line
