Concept of

Product
Name: Suchandra Sarkar
Roll no: 2121056; Uni roll: 30105020051
th rd
Sem: 6 ; Year: 3
Stream: BBA
Subject: Marketing Management
Subject code: BBA 303
Introduction
WHAT IS PRODUCT?
A product is a good or service that satisfies a customer's wants or needs. Products can be tangible (physical)
or intangible (non-physical), such as a software program or consulting service.

WHAT IS A PRODUCT MIX?

A product mix refers to the complete range of products that a company offers for sale. It includes all product
lines, product categories, and individual products.

WHAT IS PRODUCT LINE?

A product line is a group of related products that share similar characteristics and are marketed together.

WHAT IS PRODUCT WIDTH AND DEPTH?

Product width refers to the number of product lines that a company offers. Whereas, Product depth refers to
the number of products within each product line.
Product life cycle and its
stages
Product Life cycle shows the typical path or
stage of a product. Product life cycle describes
the different stages of a product from the
period of its first launch in the market to its
final withdrawal from the market.
New Product Developmet process
•New Product strategy
•Idea generation
•Idea screening
•Concept testing
•Business analysis
•Product development
•Market testing
•Commercialization and diffusion of innovation
Conclusion
The concepts of product management and the stages of the product life cycle is crucial for
developing effective marketing strategies. By knowing the characteristics of each stage,
businesses can tailor their marketing tactics to best meet the needs of their target
customers.
Moreover, developing new products is a crucial part of a company's growth, and the new
product development process should be approached with careful planning and
consideration. A well-executed new product launch can result in increased market share,
revenue, and profitability.
By utilizing the strategies involved in each stage of the product life cycle, businesses can
maximize their sales and profits and create long-term success. It is essential for companies
to keep evolving their products and marketing strategies to stay competitive and meet
changing customer needs.
THANK YOU