Marketing Planning And Development Process Essay

1156 Words Nov 28th, 2015 5 Pages
Marketing concentrates on the needs and desires of consumers along with an ability of a company to produce, develop and persuade these consumers into purchasing. Marketing also involves the act of enhancing the satisfaction of the product sold and ensuring the product or service is continually bought. Product planning and development allows companies to offer a higher quality product or services to customers while at the same time competing with and pulling ahead of competitor’s products.

Product Planning and Development Process

Let us start by understanding that a product is anything that can be offered to a market that satisfies a want or need to include physical goods, services, experiences, events, person, place, properties, organizations, information and ideas (Kotler & Keller, 2012). In order for companies to create successful products the company must be able to understand its customers, markets and competitors along. They must also have ability to develop and deliver a better value to its customers. As products go through a life cycle the planning process aids in making decision about production and sale of the specified product or services. Product development requires companies to gather ideas and propose them as potential product offerings. It is the production of these ideas utilizing information both internal and external to companies that begin to from a product offering.
Products can fail for a number of reasons to include not meting company objectives…

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