PRODUCT AS AN ELEMENT OF THE MARKETING MIX

INTRODUCTION

According to Ferrel, Lucas and Luck (1994:222) a product, with the target

market as focal point, serves as the starting point for the development of a

marketing mix strategy and forms the basis for all other decisions regarding

distribution, promotion and price. Decisions relating to the development and

marketing of products include amongst others, decisions about product

attributes, branding, packaging and labeling.

In this chapter, attention is firstly focused on the concept of product and

product life cycle. Thereafter other topics of discussion include new product

development, product portfolio management, branding and packaging.