In this chapter, we will address the following questions:

  1. What are the characteristics of products, and how do marketers classify products?
  2. How can companies differentiate products?
  3. How can a company build and manage its product mix and product lines?
  4. How can companies use packaging, labeling, warranties, and guarantees as marketing tools?
  5. What strategies are appropriate for introducing new offerings and influencing adoption?
  6. What strategies are appropriate in different stages of the product life cycle?

At the heart of a great brand is a great product offering, which customers judge on three basic elements:

  1. product features and quality,
  2. service mix and quality, and
  3. price.

In this chapter we examine product strategy, new product development, and the product life cycle. Chapter 10 explores services, and Chapter 11 discusses price.

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