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Explain the importance of the product life cycle in planning a product portfolio?
its show what stage the product is in and lets the organisation know when they could bring out a new product or
companies want products in different stages of life cycle to avoid problems such as funding many new products or expensive extension strategies, manpower planning, having too many products in decline
What else can I help you with?
What is the importance of product planning?
what is the importance of product planning
Explain the matrix approach to product planning?
Explain the Matrix approach to product planning. Suggest a Marketing strategy on the basis of the product evaluation matrix.
What is the importance of media planning?
The importance of media planning is knowing exactly where the customer base is and how to market the product to them. This can be done through television, radio, internet, or other media.
Explain the importance of flow production group technology level production and scheduling.?
importance of product flow
Define the term product portfolio?
A product portfolio refers to a collection of all the products or services offered by a company. It includes all the variations of products, their brands, and any associated services. Having a diverse product portfolio enables a company to cater to different market segments and reduce risk by not being overly reliant on a single product.
Explain in brief why portfolio analysis is necessary in the case of multi-product organisation?
The portfolio is loaded with a company's financial status, growth, and future trend predictions that can better help a marketer understand the company's needs for it's marketing campaigns. Through a portfolio you can create a campaign strategy that is custom fit to the portfolio data and better understand a company even before initial contact as well.
What are importance of audit planning?
Through audit planning, the Company can foresee the future market potential and plan its strategy accordingly right now so that they can capture market share of its product at a faster pace.
What are the importance of computer in modern management?
reserch,strategy planning,product design,labbeling,storage of data,calculations,security
Importance of user manual?
User manuals are important because they explain how to use a product. User manuals also contain warranty information, as well.
How is a product portfolio analysis conducted?
The most widely used product portfolio analysis is the model developed by the Boston Consulting Group(BCG). The BCG analysis emphasizes two main criteria in evaluating the firm's product mix: the market growth rate and the product's relative market share.
What is the meaning of Portfolio analysis?
Portfolio analysis is the systematic way of analyzing products and services. It is composed of the business' product mix to determine the optimum allocation of its resources.
What is product portfolio concept?
A product portfolio concept refers to the collection of products or services offered by a company. It includes all the goods or services that a company produces or markets, reflecting the diversity and breadth of its offerings to meet customer needs and business goals. Managing a diverse product portfolio involves strategic decisions related to product development, pricing, marketing, and resource allocation to optimize performance and market position.
