Managing Existing ProductsMarketing strategies developed for initial product introduction almost certainly need to be revised as the product settles into the market. While commercialization may be the last step in the new product development process it is just the beginning of managing the product. Adjusting the product’s marketing strategy is required for many reasons including:
To stay on top of all possible threats the marketer must monitor all aspects of the marketing mix and make changes as needed. Such efforts require the marketer to develop and refine the product’s marketing plan on a regular basis. In fact, as we will discuss in The PLC and Marketing Planning tutorial, marketing strategies change as a product moves through time leading to the concept called the Product Life Cycle (PLC). We will see that marketers make numerous revisions to their strategy as product move through different stage of the PLC.
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Managing ProductsMore ResourcesKnowThis: Marketing Basics Book396 pages - Only $25
Samples of Marketing TutorialsResearch Trends: Merging Data Sources The wide range of technologies used to gather data has led to the creation of data centers where information is stored. Today many of these data centers are sharing information with other centers in a manner that offers the marketer a fuller picture of their customers. For instance, as we will discuss in the Managing Customers Tutorial, man… |
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Ravi Ajmera makes this comment
February 05, 2010