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Posts published in “MARKETING MIX – PRODUCT”
Minimum Viable Product (MVP) is the most basic version of a product released to gather maximum customer feedback with minimal effort.
Field testing of new products provides invaluable insights that can make the difference between a market triumph and a costly flop.
Total Product Experience (TPE) recognizes that the value of a product extends beyond its functional capabilities, encompassing emotional and social factors.
Field-testing, also known as market testing or test marketing, is a controlled experiment conducted in a real-world setting to evaluate the effectiveness.
The McKinsey / General Electric Matrix overcomes a number of the disadvantages of The Boston Consulting Group Matrix in planning product portfolio.
Contribution Analysis can help a business to identify both profitable products and those that might need more development in the future.
The Boston Matrix, or The Boston Consulting Group Matrix, is a business tool used for marketing management of a balanced Product Portfolio.
Most products pass through a number of phases. Let's take a look how 4Ps of Marketing Mix change at different stages of Product Life Cycle (PLC).
Product Portfolio is the range of products a company has in development or available for sales to consumers at any one time.
This article explains how Price Elasticity of Demand (PED) is likely to change through the different stages of Product Life Cycle (PLC). It should be fun!
Marketing managers need to be aware of major uses of Product Life Cycle (PLC). They need to make during different phases of the product life cycle.
Extension strategies are means of lengthening the life of a product to delay its decline; attempts to prolong Product Life Cycle (PLC).
There are different stages of Product Life Cycle (PLC). Each stage is likely to have a very different investment, sales revenue, profit and cash flows.
As all products have a very specific life cycle, Product Life Cycle (PLC) is the typical process that all products go through from birth to death.