Product Planning

What is this image an example of as it relates to our Product Planning unit?

• A bar chart

• Product Sales Chart

• Product Life Cycle

• Product Profitability Cycle

The stages of a product life cycle are

• Introduction, selling a lot, maturation, and decline

• Information, selling, maturation, failing

• Getting known, growth, maturation, and failing

• Introduction, growth, maturity, and decline

This is the first step and typically involves either internal or external sources or both.

• Idea generation

• Idea screening

• Concept development and testing

• Marketing strategy development

This is the step includes the RWW screening framework which takes a final idea to determine if it is real, can win and worth doing.

• Idea generation

• Idea screening

• Concept development and testing

• Marketing strategy development

This step focuses on product idea, a concept that is meaningful to the consumer, an image or perception for the consumer and concept testing to make sure the product reaches the ideal target market.

• Idea generation

• Idea screening

• Concept development and testing

• Marketing strategy development

This step is all about in-depth research of the 5Ps, positioning and projected sales and gals.

• Business analysis

• Product Development

• Test Marketing

• Marketing strategy development

This step is all about in-depth research of the 5Ps, positioning and projected sales and gals.

• Business analysis

• Product Development

• Test Marketing

• Marketing strategy development

The review of sales, costs and profit projections to find out whether or not they are reaching company objectives are completed in this step.

• Business analysis

• Product Development

• Test Marketing

• Commercialization

This involves the creation of a prototype and more than one physical version.

• Business analysis

• Product Development

• Test Marketing

• Commercialization

The introduction to a small market to ensure the product is realistic and connects to the market before the big launch.

• Business analysis

• Product Development

• Test Marketing

• Commercialization