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Ch 10 PP
Ch 10 PP

...  As the product becomes more successful, competitors enter the market, and now there are many companies competing for customers  At this stage, marketers may add new features and benefits to make their product stand out from the rest  In the life cycle of a product category, one producer usually ...
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Product planning

Product Planning is the ongoing process of identifying and articulating market requirements that define a product’s feature set.Product planning serves as the basis for decisions about price, distribution and promotion.Product planning is the process of creating a product idea and following through on it until the product is introduced to the market. Additionally, a small company must have an exit strategy for its product in case the product does not sell. Product planning entails managing the product throughout its life using various marketing strategies, including product extensions or improvements, increased distribution, price changes and promotions.
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