Marketing

12

Product policy

12.1 Introduction

The success of a marketing plan relies on how the ‘Four Ps’ are used in ways that support and complement each other. Different products and markets call for a different mix, but in all cases mix elements need to be applied to a marketing situation whatever the emphasis given to any one of them. The ‘product’ is especially important. A product strategy presupposes the existence of something to ‘take to the market’. The product is the centre or focus of the marketing mix, because it is the product that is ultimately delivered to the consumer. The actual product or service (‘product’ and ‘service’ are interchangeable words in the context of this discussion) is that which gives satisfaction to the consumer, fulfilling ...