Product Planning and Development
Marketing Co-Op
Product Planning
Making decisions about _______________ that are needed to ___________ a business’s products, services or ideas
Product Features
 Packaging
 ________________
 Branding
 ________________
 Warranties
Allows a business to
 Coordinate existing products and features
 ________________________________________
 Delete products that are no longer attracting customers
Product Mix
All the different products that a company makes or sells
Example:
KRAFT Company:
 Kraft
 Kool-Aid
 Nabisco
 Maxwell House
 Oscar Mayer
 Post Cereal products

To determine a company’s product mix, a business needs to identify:
 Its ______________________________
 Its competitors
 The __________ it wants to _________________
Product line – a group of ___________________________ products sold by a business
Product items – a _______________ model, brand, or size of a product within a
_______________________
Product Width and Depth
The width and depth of a company’s product offerings defines the ___________________
Product Width
The number of different ____________________ sold by one manufacturer
Product Depth
The number of ________________________ within each specific product line
 From one brand name
Product Mix Strategies
Develop _______________________________ products for existing lines
Drop ___________________________ to allow room for _________ products
Expand or _______________ existing product lines
Product Life Cycle
A representation of the stages that a product goes through during its life
There are 4 stages of the life cycle
 Introduction
 _____________________
 _____________________
 Decline

Managing the Introduction
Company is focused on
 _________________________________________________________________
 Getting the customers attention
 _________________________________________________________________
 Costs in this stage are high, therefore this is the least profitable stage
Managing the Growth
There is an increase in sales and profits
Most of the target market knows about and buys the product
Company now focuses on
 Customer ________________________
 Competing with _________________ companies
Managing the Maturity
Sales ____________________ and ___________________
More _________________________ exists
Most _______________________ owns the product
Company starts to think of ways to _____________________________________
Developing Existing Products
Companies constantly ____________________ their product mix to see if they can further ________________ their product lines or ________________ existing products to keep them from moving into the ______________________________
Helps to reach _______________________ and increase ____________________

Can be very expensive
 Increased inventory
 _________________________________
 Additional storage and distribution
Line Extensions
Introducing new __________________________, or services to meet customer needs
Product Modifications
An ___________________ in a company’s _________________ products
Managing the Decline
Sales ____________ and there is ________________________
Ways to keep the product alive
 __________ or _______________ the product
 _____________________ to the product line – try to increase advertising and promotion
 ________________________________________
 Regionalize the product – sell only in areas with strong customer loyalty
 _______________________ or alter the product
 ________________ the product from the line
Deleting a Product
There are several reasons why a company may decide to eliminate a product item or line
 ____________________________________
 Loss of Appeal
 Change in __________________________
 Replacement with new products
 ____________________________________
 Conflict with other products in the line