Introducing New Product For Competitive Market Essay
Product planning is very necessary for various marketing decisions such as bounding, packaging, distributaries etc. Acc. To William, j. Stautor “ product planning consists of activities wheels enable predecessors to determine what should constitute a company line of product. Ideally product planning will ensure that the full complement of a firm’s product is designed to strengthens the co. product position. It involves decision regarding the product are services which the firm is to product sell. It is concerned with the analysis of potentially markets, estimation of sales volume, starveling screening of new products, budgeting of costs, modification of existing product scraping of unprofitable product planning involves both existing as well as potential product.
Decision making involves in product planning
(a) Introduction involves in product planning.
(b) Improvement of new product
(c) Weeding out the unprofitable item in the product line
(d) Provision of product plan in the light og changing market condition.
New product development
New product development consists of creation of new ideas, their evaluation inters of sales potential profitability’s, production facilities, the main task of the product planner is to identify specific customer needs Expectation align company’s capabilities with the changing marketing demands. In each of these stages the marketing must decide.
Whatever be the nature of operation of a concern,…