The foundation for marketing mix planning is the market offering; It includes the products, services, and experiences created for the customers. Customers ...

A product's value extends beyond its physical attributes or fundamental service elements. In marketing, a product is viewed on three levels: core, ...

Marketers must understand the types of products and services they create to develop effective marketing mix strategies tailored to consumer needs and ...

Consumer goods are marketed differently based on the type of consumer products and associated purchasing behaviors. For example, in the confectionery ...

Businesses aim to develop products or services that fulfill customer needs at an acceptable price. It involves critical pre-development decisions that ...

A product line is a group of related products manufactured by a single company, often sharing similar functionalities, targeted at specific demographic ...

A product mix, or product portfolio, is a complete assortment of product lines that a company offers to its customers. For instance, P&G maintains ten ...

Branding involves crafting a unique identity for a company or product. It encapsulates a company's reputation and perception in the consumer's ...

A brand is a company's distinctive identity, comprising elements such as name, logo, symbol, characters, and slogans. For example, Airbnb's ...

There are five brand development strategies. These are: Line Extension which is about companies expanding their product line with new variants, flavors, ...

Packaging involves designing and creating a product's container or wrapping to protect the product, facilitate its handling and storage, and enhance ...

Services such as banking or healthcare are intangible economic activities that businesses offer consumers. Four distinct characteristics differentiate ...

Services marketing refers to planning and executing strategies to promote and sell services. The unique characteristics of services pose distinct ...

New Product Development, or NPD, is a business process that involves the conceptualization, design, development, and marketing of entirely new products or ...

The new product development or NPD process is a systematic, phased approach to creating and introducing innovative offerings to the market. It consists of ...

The NPD is a seven-stage process. To illustrate the process, let's consider creating a new snack, a flavored pretzel bite. The process begins with ...

The diffusion of innovation theory outlines how, why, and at what rate new ideas, products, or technologies spread among consumers. It categorizes ...

The Product Life Cycle or PLC curve aids marketers in strategizing, optimally allocating resources, anticipating market trends, and making timely ...

A brand portfolio represents all brands under a company, while a product portfolio comprises all products under these brands. Brand and product portfolio ...