Marketing Management
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IntroductionWe are now focusing on the major elements of the marketing mix, the ingredients of the marketing mix.Product definition:A product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value.EXAMPLE Rebook shoes:Core–the ability to make people comfortable in their shoes while walkingActual—Rebook shoes (brand name), packaged, well polished, etc. that provide the desired benefits, high quality etc.Augmented–receive more than just the shoes a shoe with high technical term.The same product can be from online (home or the office) or from stores or from a retailers.Convenience: Packaging is important to sell the product. Consumers Need to get even the lesser quality product until he gets convenience with the packagesShopping: People love to go to shop and purchase the productsSpecialty: some people doesn’t not accept the substitute.Product Positioning and Product RepositioningDefinition:This refers to a place a product offering occupies in consumers minds on important attributes, relative to competing offerings.
New Product Strategy.New Product Strategy DevelopmentWhen a new product comes to the market the important strategy is marketing through commercials. So need to take all creative ideas from the new marketing people.Idea GenerationWhen generation changes technology changes commercials also needs to change depends on the people and things they use.Product Screening and EvaluationEvery product must be screened and tested before market even before commercialsBusiness AnalysisAnalyze potential contribution to sales, costs and profits.Product DevelopmentThe product development should have many innovative ideas. Test MarketingTest all the products