Search results
Results From The WOW.Com Content Network
The plastic used in plastic shopping bags also started as a by-product of oil refining. [1] By-products are sometimes called co-products to indicate that although they are secondary, they are desired products. For example, hides and leather may be called co-products of beef production. There is no strict distinction between by-products and co ...
Marketing or product differentiation is the process of describing the differences between products or services, or the resulting list of differences. This is done in order to demonstrate the unique aspects of a firm's product and create a sense of value .
Product life cycle plays an important role in marketing. The first reason is that the managers will follow the four stages to make product plans for pushing out new products. Secondly, the level and growth of sales will change a lot during the four stages so the managers need to adjust the product plan appropriately and timely.
The marketing plan also helps layout the necessary budget and resources needed to achieve the goals stated in the marketing plan. It is able to show what the company is intended to accomplish within the budget and also makes it possible for company executives to assess potential return on the investment of marketing dollars.
The marketing plan identifies key opportunities, threats, weaknesses, and strengths, sets objectives, and develops an action plan to achieve marketing goals. Each section of the 4P's sets its own objective; for instance, the pricing objective might be to increase sales in a certain geographical market by pricing their own product or service ...
However, it can also be considered that marketing so many new products leads to economic resources being wasted; the consumer becomes confused and mistakes are made in the purchase of products. Other problems associated with product proliferation include higher production, higher inventory and larger record-keeping costs.
Product managers are responsible for managing a company's product line on a day-to-day basis. As a result, product managers are critical in driving a company's growth, margins, and revenue. They are responsible for the business case, conceptualizing, planning, product development, product marketing, and delivering products to their target ...
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.