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Reading 6 - The Marketing Mix - Product Product - Coggle Diagram
Reading 6 - The Marketing Mix - Product
Marketing Mix - Product
Packaging Design
Branding
After-Care/Service Support
Product Development Requirements (Informed by market research).
Types of Product
Convenience
Shopping
Speciality
Unsought
New Product Development
Phase 3: Concept/product evaluation
Phase 4: Development
Phase 2: Concept generation
Phase 5: Launch
Phase 1: Opportunity Identification and selection
Product Planning
4) Concept testing
5) Market/Business Analysis
3) Idea screening
6) Product development
2) Idea Generation
7) Test marketing
1) New Product Planning
8) Commercialisation
Products may fail if...
Market size overestimated
Market Research Disregarded
High Product Development Costs
Poor Product Design
Incorrect Positioning
Unsuitable launch timing
Inappropriate pricing
Poor Promotion
Aggressive competition from competitors
Products may succeed if...
Unique Superior Product
Giving Customer a Voice
Front-end loading project
Early product/project definition
Spiral development
World Product
Properly executed launch
Good Quality in Reasonable time.
