Contribution Analysis can help a business to identify both profitable products and those that might need more development in the future.
Posts published in “MARKETING MIX – PRODUCT”
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.
Packaging is crucial for a product as it is the integral part of the product itself. Most products bought by consumers are packaged.
The most important aspect of marketing is to create Unique Selling Point (USP) for the product to differentiate from competitors.
What are the typical methods of differentiation? A firm may differentiate itself from competitors through unique 8Ps of Marketing Mix.
Differentiation means distinguishing your business organization from other businesses in the same industry. It works wonders to stand out!
A product is either a tangible good or an intangible service, or a combination of both, supplied by a business to satisfy needs and wants of customers.
Product Position Map shows the consumer perception of a product or brand in comparison to its competitors in terms of Price and Quality.
The final part of the SEGMENT – TARGET – POSITION process is Product Positioning which shows the perception customers have about the product.