What you’ll learn to do: explain common product marketing strategies and how organizations use them

Often when we hear the word marketing, we think about promotion or perhaps only advertising, but product is the core of the marketing mix. Product defines what will be priced, promoted, and distributed. If you are able to create and deliver a product that provides exceptional value to your target customer, the rest of the marketing mix is easier to manage. A successful product makes every aspect of a marketer’s job easier—and more fun.

The specific things you’ll learn in this section include the following:

• Describe common consumer product categories
• Explain the elements and benefits of branding
• Describe common branding strategies
• Describe the product life cycle
• Explain marketing considerations through the product life cycle
• Explain the stages of the new-product development process