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MARKETING MIX known as the 4Ps' (product , place, promotion and price)…

- - - - Installation
      - Delivery and credit
      - After-sale service
      - Warranty
    - - Packaging
      - Brand name
      - Features
      - Quality
      - Styling
    - - Core benefits of service
  - - - analysis of macro and micro environment
      - competitive positions of the organisation and competitors
      - useful tools : SWOT, ANSOFF'S MATRIX
    - - research laboratories - dedicated to developing new products ideas and prototypes
      - periodic review - products and product portfolio
      - open calls for product suggestions internally or externally
      - collaboration - with other brands Walker Hainz
    - - selecting the most promising ideas for further development
      - Day, 2007, p 115 and 53 Reading 1 Day's screening criteria for success
    - - test - with target consumers to gauge their reaction
      - allows product ideas to be refined before expensive further development is perused for promising product
    - - developing marketing strategy consisting of
        
        the target market
        
        the planned value proposition - the planned price, distribution and the marketing budget for the first year
        
        the sale, market share and profit goals for the first few years
    - - translating the product concept into actual prototype
    - - full-scale launch of a new product
    - - overestimation of the market size
      - disregarding marketing research
      - higher then expected product development costs
      - poor product designe
      - incorrect positioning
      - unsuitable launch timing
      - inappropriate pricing
      - poor promotion
      - aggressive competition from competitors