The foundation for marketing mix planning is the market offering; It includes the products, services, and experiences created for the customers.
Customers …
Marketers must understand the types of products and services they create to develop effective marketing mix strategies tailored to consumer needs and …
Consumer goods are marketed differently based on the type of consumer products and associated purchasing behaviors.
For example, in the confectionery …
Businesses aim to develop products or services that fulfill customer needs at an acceptable price. It involves critical pre-development decisions that …
A product line is a group of related products manufactured by a single company, often sharing similar functionalities, targeted at specific demographic …
A product mix, or product portfolio, is a complete assortment of product lines that a company offers to its customers. For instance, P&G maintains ten …
There are five brand development strategies. These are:
Line Extension which is about companies expanding their product line with new variants, flavors, …
New Product Development, or NPD, is a business process that involves the conceptualization, design, development, and marketing of entirely new products or …
The new product development or NPD process is a systematic, phased approach to creating and introducing innovative offerings to the market. It consists of …
A brand portfolio represents all brands under a company, while a product portfolio comprises all products under these brands.
Brand and product portfolio …
Services such as banking or healthcare are intangible economic activities that businesses offer consumers.
Four distinct characteristics differentiate …
