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4.3 Product introduction - notes

In the previous sections we examined the role, definition and nature of marketing, marketing planning, the marketing mix, marketing objectives, positioning and market research. In this section we will look at the classification of products, new product development, the product life cycle, product portfolios and branding.

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By the end of this section you should be able to:

  • Classify products by line range and mix
  • Describe the importance of innovation in an era of rapid technological change and discuss the problems and financing research and development
  • Analyse the relationship between the product life cycle and the marketing mix, and determine appropriate extension strategies
  • Analyse the relationship between the product life cycle, investment, profit and cash flow
  • Apply the BCG matrix to a given situation
  • Discuss the importance and role of branding

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  • Use the BCG matrix to help in developing future strategic direction
  • Distinguish between different types of branding
  • Analyse the role of branding in a global market