If a new product developer thinks he can just put his product on shelves and watch if fly and make money, he is sorely mistaken. It is crucial to evaluate how your product is doing, and see where its strengths and weaknesses are. Its is your product, you have control and responsibility for it. Control consists of measuring and evaluating the results of marketing activities and taking corrective action where needed. Finally, marketing analysis provides information and evaluations needed for all of the other marketing activities. (Armstrong/Kotler, Marketing, pg 31) It is important to take the information gathered and make changes in your marketing plans where needed. It is also just, if not more important to take the positive information and capitalize on it and increase what is working. Opportunities are favorable factors or trends in the external environment that the company may be able to exploit to its advantage. (Armstrong/Kotler, Marketing, pg. 31) This will be a key part of the success of the new product.
No comments:
Post a Comment