Maximizing Market Effectiveness: Product Decisions

Gordon Wills, Sherril H Kennedy, John Cheese, Angela Rushton

    Research output: Contribution to JournalArticle

    Abstract

    Customers are not attracted to products, but to the benefits that the product can bring. Thus, the organization must adopt a market-oriented approach to product development, rather than a product-oriented approach. Understanding the process known as the product life cycle can be useful for the marketer who combines this understanding with a thorough knowledge of the individual market. The product can be understood in terms of its growth, maturity, or decline. An organization that does not wish to remain stagnant will be concerned with the selection and development of new products. To do this effectively, it will have to take a general view and a specific view of product market development. New product ideas come from customers, scientists, competitors, salespeople, and top management. New techniques used to generate and develop new ideas must be critically evaluated and screened.
    Original languageEnglish
    Pages (from-to)56
    JournalManagement Decision
    Volume28
    Issue number2
    Publication statusPublished - 1990

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    Bibliographical note

    ISSN: 00251747

    Keywords

    • 7500:Product planning & development
    • Business And Economics--Management
    • Market strategy
    • Product design
    • Product development
    • Product testing
    • Profit planning

    Cite this

    Wills, G., Kennedy, S. H., Cheese, J., & Rushton, A. (1990). Maximizing Market Effectiveness: Product Decisions. Management Decision, 28(2), 56.