Types of product strategies include product positioning, re-positioning, overlap, scope, design, elimination and diversification.Additionally, companies can compete by bringing entirely new products to market or offering a superior value on existing products. Important considerations when selecting a product strategy are research, design, pricing, promotion and distribution.
The plethora of available strategies reflects the reality of highly specialized markets. Good product strategies either meet an existing need with a quality solution or create a need by offering something so innovative and special that customers decide they dont want to live without it. Some products, such as organic foods, meet customer concerns about the environment and their own personal health. Other products, such as candy, fulfill customers desires for a sweet treat.
The term unrelated diversification refers to the manufacture of various products that are not related to each other in any way. An example of unrelated d…Full Answer
What Are Some Differences Between Micro and Macro Marketing?
The differences between micro- and macro-marketing pertain to the scope of a business approach. Macro-marketing takes a global view while micro-marketing …Full Answer
A business strategist is typically a leader of an organization who is responsible for determining the direction and scope of a company. A business strategi…Full Answer
Types of propaganda include the act of showcasing only the best features of an individual or product while deliberately omitting details that detract from …Full Answer
What Are Some Types of Prefabricated Cabins?
What Types of College Classes Can You Take for Free?
What Are Some Different Types of Speech Therapy Activities?
What Are Some Types of Spelling Worksheets?
Can Bass Boats Be Used for Other Types of Fishing?