Product Development and Strategy
There are four distinctive types of consumer products: Convenience products, Shopping products, Specialty products and Unsought products. We take a closer look at convenience products and in particular shed light …
The product life cycle describes the steps a product goes through from beginning to end until it eventually disappears from the shelves. There are four stages of the product life …
Most products are part of a broader product mix. Within the product mix, which may consist of a large range of different products aiming at a different positioning, they play …
Companies are constantly developing new products to keep up with consumer demand, technological advancements, and innovations. Although developing a new product can be profitable, companies can be confronted with many …
In order to provide value to consumers, it is important to first understand the key consumer product characteristics. What defines a consumer product?
In marketing, you often find the presentation of products as a bundle of benefits that the consumer obtains. What does this concept exactly mean and how can features be converted …
There are different definitions of product quality. What is actually meant by quality? How do you measure it? As you may realize in the following, quality has many facets and …
Sometimes companies decide that they will no longer produce or sell a particular product, or even a whole product line. But what are the reasons for deleting a product or …
The BCG matrix, also known as the Boston growth-share matrix, is a tool to assess a company’s current product portfolio. Based on this assessment, the Boston matrix helps in the …
All products and services have a certain life span which is measured by the chronological history of sales from the launch of the product until its withdrawal from the market. …