Product Planning

Bell ringer/ complete on Doc in Google Classroom.
Why is product planning essential?

Product Planning

​Making Decisions About

• Features and services

• Packaging

• Labeling

• Branding

• Product warranties

​Product planning

Allows businesses to add new products and delete old products. Product planning requires creativity and the ability to interpret current customers' needs and forecast new trends.

Multiple Choice

Product planning is following the steps necessary to develop, launch and sell a new product idea to consumers.

• True

• False

​Product Mix

Product mix includes all the different products that a company makes or sells. A big company might have a variety of products in different categories.

Multiple Choice

Kraft Foods sells Cool Whip, Capri Sun, and Macaroni and Cheese, this is an example of...

• Retail Mix

• Product Mix

• Product Planning

• Retail Planning

Let's take a look at how products are organized within a brand

Product Line:

group of closely related products manufactured by a brand.

EXAMPLE

P&G has over 250 products within 21 product lines.

Dish care is a product line 

Cascade, Dawn, Joy, & Ivory are items

Multiple Choice

A group of similar products with slight variations to satisfy customers' needs

• product mix

• product line

• product matrix

• rebranding

Multiple Choice

Different product made by the same company is known as

• product mix

• product line

• product matrix

• rebranding

Product Item:

specific model, brand, or size of a product within a line (specific item)