Concise yet comprehensive, Product Planning Essentials addresses the complex, interdisciplinary nature of product development and product management. It covers strategic issues that emerge during the product life cycle, including identifying opportunities, idea generation and evaluation, technical development, commercialization, and eventual product dismissal. Special topics include public policy, international issues, and intellectual property. An interesting summary of product development best practices from several companies appears at the end of the book. Instructors, students and practitioners will appreciate the balanced managerial and how-to orientation.
Chapter Eight: Market Planning
Another stream of activities within the technical development stage is market plan development. A subtle distinction between the present set of activities and those activities discussed in the previous chapter is that market plan development is not officially finalized until product launch, whereas, for the most part, the product's engineering design is finalized prior to initiating launch activities.
Market planning can be envisioned as a process involving two distinct sets of activities: the situation analysis and marketing mix development. The situation analysis involves an assessment of the 3Cs: company issues, competitor issues, and customer issues. Marketing mix development involves identification and integration of the most appropriate product issues, place (distribution) issues, promotion issues, and price issues. Together the 3Cs (company, competition, customer) and ...