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Tag: MDU BBA NOTES

MM2/U2 Topic 12 Product Life Cycle (PLC)

The Product Life Cycle contains five distinct stages. For the four stages introduction, growth, maturity and decline, we can identify specific product life cycle strategies. These are based on the […]

MM2/U2 Topic 11 Diffusion of Innovation

The diffusion of innovation is the process by which new products are adopted (or not) by their intended audiences. It allows designers and marketers to examine why it is that […]

MM2/U2 Topic 10 Adoption Process

Adoption process is a series of stages by which a consumer might adopt a NEW product or service. Whether it be Services or Products, in today’s competitive world, a consumer […]

MM2/U2 Topic 9 Why New Products Fail

15 Reasons for New Products Failure: (i) No Product Point-of-Difference For a new product to win initial trials and then ongoing repeat business, it needs to bring something new to […]

MM2/U2 Topic 7 Packaging and Labeling

PACKAGING Packaging is the science, art and technology of enclosing or protecting products for distribution, storage, sale, and use. Packaging also refers to the process of designing, evaluating, and producing […]

MM2/U2 Topic 6 Product Line Strategies

Product Line A product line is a group of related products under a single brand sold by the same company. Companies sell multiple product lines under their various brands. Companies […]

MM2/U2 Topic 5 Product Mix Strategies

Product mix, also known as product assortment, is the total number of product lines that a company offers to its customers. The product lines may range from one to many […]

MM2/U2 Topic 4 Product Hierarchy

Product hierarchy is the classification of a product into its essential components. It is inevitable that a product is related or connected to another. The hierarchy of the products stretches […]

MM2/U2 Topic 3 Classification of Product

Classifying Products into meaningful categories helps marketers decide which strategies and methods will help promote a business’s product or service. Many types of classification exist. For example, marketers might categorize […]

MM2/U2 Topic 2 Level of Products

According to Philip Kotler, who is an economist and a marketing guru, a product is more than a tangible ‘thing’. A product meets the needs of a consumer and in […]

MM2/U2 Topic 1 Product Management: Introduction

Product Management is an organizational function that guides every step of a product’s lifecycle: from development, to positioning and pricing, by focusing on the product and its customers first and […]

MM2/U1 Topic 3 Service Marketing Mix

Services marketing is simply strategizing your marketing for the provision of services both in the context of a business serving a consumer and as a business serving another business. These […]