Product line change — the process by which a firm alters the range of products or services1 which it sells — is one of the most important kinds of business activity. A firm’s product range is one of the key determinants of its profitability and sales. Changes in the product line can produce major changes in a firm’s fortunes, while all other elements of the firm’s marketing strategy depend crucially for their success on the characteristics of products sold by the firm. Product strategy therefore has a claim to be one of the most fundamental elements of marketing strategy.
KeywordsProduct Planning Product Strategy Promotional Policy Marketing Planning Domestic Appliance
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- 3.For such an approach see E. A. Pessemier, New Product Decisions: an analytical approach (New York, 1966).Google Scholar