Product and Brand Management. What is a product?. A product is any offering by a company to a market that serves to satisfy customer needs and wants. It can be an object, service, idea,etc. New Product Development. Most new product development is an improvement on existing products
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Customer value hierarchy
- raw materials
- manufactured materials and parts
too long – when profits increase by dropping a product in the line
too short – when profits increase by adding products to the product line