Product policies, Marketing Management

Assignment Help:

Product policies:

Product policies are the general rules set up by the management itself in the marketing product decisions. Products of a firm are the backbone with which profit is earned, enabling the firm to exist. Therefore, the product is the fundamental feature which determines the firm's success or failure. Good product policies are the basis on which the right products are produced and marketed successfully. The fundamental function of a product policy is that it guides the activities of a firm and is measured not only with the current profits, but also with the long life of the firm. The policies of the firm must be to manufacturer right products for the consumers. "Product policy is concerned with defining the type, volume and timing of the products a company offers to sale". The product policy is the objectives and guidelines, which determine the nature of the product or the services, to be marketed. All types of commercial function must have a policy. And when a product is concerned, a policy is essential to make the product up to the standard expected by the consumers. The product policy is a broad term and includes many activities. Products policy generally covers the following

1.       Product planning and development.

2.       Product mix

3.       Product packaging

4.       Product positioning

5.       Product branding                                       


Related Discussions:- Product policies

Explain the main stages in the production, (a) Explain the main stages in t...

(a) Explain the main stages in the production of a 2-minute news item meant to be broadcast on TV. To explain the process, use the example of one of the subsequent events: (i

Explain the stage involved in the product life cycle concept, QUESTION 1 ...

QUESTION 1 (a) Explain the stages involved in the Product Life Cycle concept and their relevance in marketing decision making. You may use any product/service as an example to

Discuss the principles of market skimming, Question 1: a) What are the...

Question 1: a) What are the evaluative criteria marketing management can use to assess the usefulness of marketing segmentation variables? b) Explain how ‘organisational

What is budget allocation, What is Budget allocation Sales department...

What is Budget allocation Sales department receives the bulk of the marketing budget in the organisation market, and little is spent on research in comparison with the consum

Nelson mathematics sharing and grouping, use the equation of 42 divded by 7...

use the equation of 42 divded by 7 to write 2 promblems one about sharing the other about grouping

What is role of public warehouses in distribution channels, What is the rol...

What is the role of Public Warehouses in distribution channels? Public Warehouses: The public warehouses rent space to owners of inventory thus eliminating the requiremen

Principle of marketing, Place/distribution is a crucial aspect ofof the mar...

Place/distribution is a crucial aspect ofof the marketing mix.discuss this marketing mix variable and show how attention to it product to the consumer.

Deciding on the advertising budgets, Deciding on the advertising budgets:...

Deciding on the advertising budgets: How does a company know if it will be spending the right amount? If it spends too little, the effect will be negligible. If it spends too

Describe effective advertising, Question 1: (a) Explain in thorough det...

Question 1: (a) Explain in thorough details what is advertising. (b) A standard definition of advertising is said to have five basic components. With particular reference

Product line pricing, Product Line Pricing : Whenever a firm markets a v...

Product Line Pricing : Whenever a firm markets a variety of products grouped into appropriate product lines, a particular possibility in pricing arises. As the product in a part

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd