Planning for Products and Brands
Because of the dynamic nature of the markets, organizations need to plan and develop existing products and search for new products in order to survive. New products introduced or tested on the market have a failure rate as high as 95%.1 Thus it is imperative that every area of the product be carefully analyzed and planned so that continuing marketing decisions can be formulated from facts relevant to the total product.
Based on the situation analysis, and information in relation to segmentation, positioning, and buying behavior gathered from market research, you are able to plan your marketing mix. Planning your product strategy is usually the first step in developing marketing mix strategies. In other ...
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