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Product - Coggle Diagram
Product
Price
Price is the formal ratio that indicates the quantity of money, goods or services needed to acquire a given quantity of good or services.
cost based approach - the orgnial theory most and improtant element is the cost of the componenet resoruces.
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Place
'when customers buy a product and the means of distributing your product to that place, must be appropriate and convenient for the customer" - CIM definition
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Channel strategy
influences
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competitive factors e.g. if competition controls intermediaries go direct to consumer a differentiator e.g. harry razor blades
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what is product?
a product is anything that can be offered to a market for attention, use or consumption that should satisfy a want or need.
methods used to improve/differentiate the product to increase sales or target sales more effectively to gain competitive
- extension strategies, specialist versions, new additions, packaging, technology etc.
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innovative, replacement, variant, me-too, re-launched