E-Marketing Professionals

Product Development

Product development converts a product idea into a physical form and identifies a basic marketing strategy. It involves product construction, packaging, branding, product positioning, and attitude and usage testing.

Product-construction decisions include the type and quality of materials comprising the product, the method of production, costs and production time requirements per unit, plant capacity, alternative sizes and colors, and the time needed to move from development to commercialization. Packaging decisions include the materials used, the functions performed (such as promotion and storage), costs, and alternative sizes and colors. Branding decisions include the choice of a new or existing name, exclusivity, trademark protection, and the image sought. Product positioning involves selecting a market segment and positioning the new item against competitors and other company offerings. Attitude and usage testing center on consumer perceptions of and satisfaction with a product.