A product is considered as a dish to satisfy the needs of customers. It is a tangible commodity or an intangible service. Each product has a life cycle, including phases: growth phase, mature phase and recession. Marketers must study the life cycle of the products they are marketing and focuses on the various challenges arising of it.
The marketers must also consider product mix (product mix ). thereby extending the current product portfolio by increasing the depth of a product line or increase the number of product lines. Marketers should consider how to position the product, how to exploit the brand, how to exploit the company's resources and how to shape a product mixture to each product complement each other. in addition also have to consider the strategic product development.
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