what is the difference between a new product and a line expansion -
✅A new product is an original idea for the company where a line extension is expanding on a
product like cherry pepsi
6 steps to establish new products -
✅1. set new product goals
2.Develop new ideas
3.Screen ideas and concepts
4.Develop the concept
5.est market
6.Introduce the product
what is the product manager in charge of -
✅Product manager is in charge completing a strategy to market a product
what are the four steps of a product lifestyle -
✅1.Introduction (establish)
2.Growth (advertise)
3.Maturity (modify to remain needed)
4.Decline (maintian sales)
in what step of the product lifestyle do products peak -
✅maturity
what are the 4 distribution channels and what do they do(marketing intermediaries) -
✅Agents and brokers(bring buyers and sellers together)
Industrial distributors(Independent wholesalers that sell to industrial users)
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