Product and Service Management

Introduction

High costs, low sales, heavy promotional focus on building awareness

Growth

Rising sales, expanding marker share, growing competition, focus on customer retention and feature updates

Maturity

Peak sales, market saturation, heavy price competition, focus on customer retention and feature updates

Decline

Falling sales, reduced profits, decision to harvest, divest, or update the product

Brand Elements

Name, logo, slogan, colour palette, packaging, and brand voice

Brand equity

The commercial value derived from consumer perception of the brand name

Brand extensions

Launching new or modified products under an established brand name

Co-Branding

Collaborating with another brand to create a joint product or experience

Product Width

The total number of product lines offered by a company

PRoduct depth

The number of sub0variants or options within a single product line

New product development

Idea generation, screening, business analysis, prototyping, market testing, commercialization

Packaging + Warranties

Structural design, regulatory labeling compliance, eco-friendly packaging and customer service guarantees

Brand Equity

THe added commercial value, perception, and premium price a recognizable brand name gives to a prodcut

Corporate Social Responsibility (CSR)

A business model wherein companies integrate environmental, social, and ethical standards into their brand operations

Product depth

The number of vvarioations, options, sizes, or sub-items offered within a single product line

Product life Cycle

The four predictable stages a product moves thorugh from launch to removal: introduction, growth, maturity, and decline

Product Mix

The complete set of all product lines and individual items offered for sale by a company

Product line

A group closely related products marketed by a signle company that perform similar functions or target similar markets