To ensure that the objectives set out in the marketing plan are met, it is essential that the marketing mix is developed and successfully targeted in the market place. A key element of the marketing mix is the product or the service a firm offers. We start this course on product and services management by defining a product and a service, and identifying some similarities and differences.
By the end of this course you will be able to:
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define the elements of products and services
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undertake product analysis to identify components of successful products
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identify the unique characteristics of service products
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detail the new product development process and explain the importance of its management
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distinguish between products in different stages of the product life cycle and select appropriate management actions
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identify key branding decisions.