Marketing is the business function responsible for identifying customer needs and promoting products or services to satisfy those needs profitably. It involves market research, product development, pricing, promotion, and distribution. Effective marketing helps a business attract and retain customers, build brand awareness, and increase sales and market share.
Product Differentiation in a Nutshell Product differentiation is the process of making a product stand out from rival products, so customers see it as different and better. A unique selling point, design,…
New Product Development in a Nutshell New product development (NPD) is the process a business follows to take an idea and turn it into a product customers can buy. It runs from…
Extension Strategy in a Nutshell An extension strategy is a deliberate action to lengthen a product’s life cycle, usually in late maturity or early decline. Tactics include new flavours, features, packaging, new…
Product Life Cycle in a Nutshell The product life cycle is a model that shows the stages a product passes through from launch to withdrawal, tracking sales and profit over time. The…
Product Portfolio in a Nutshell A product portfolio is the full range of products a business sells, sometimes called the product mix. It is described by its width, length, depth and consistency.…
Dog (Boston Matrix) in a Nutshell A dog is a product with low market share in a low-growth market. It is a small player in a stagnant or shrinking market, often in…
Question Mark (Boston Matrix) in a Nutshell A question mark, also called a problem child, is a product with low relative market share in a high-growth market. Nobody knows its future. With…
Cash Cow (Boston Matrix) in a Nutshell A cash cow is a product with high market share in a low-growth market. It is a market leader in a mature market, so sales…
Star (Boston Matrix) in a Nutshell A star sits top-right in the Boston Matrix. It is a product with high market share in a fast-growing market. Stars bring strong revenue and brand…
Boston Matrix in a Nutshell The Boston Matrix is a portfolio analysis tool created by the Boston Consulting Group in 1970. It plots each product on a grid using market growth and…
Product in a Nutshell A product is any good or service a business sells to meet a customer need or want. It is the first P of the marketing mix, and the…
Niche Marketing in a Nutshell Niche marketing means targeting a small, specific segment of a larger market with a product built for its exact needs. It allows premium prices, loyalty and little…
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