4.
Product Policy
FIRMS FACE A WIDE VARIETY OF CRITICAL PRODUCT policy decisions.1 Some examples of issues that frequently emerge are:
- What product attributes or features should be offered? What is the preferred trade-off between the costs made to develop a product and the customer value delivered?
- How should a firm respond when, some time after a successful product launch, competitors are catching up with “me-too” products?
- How should a firm structure its new product development pipeline?
- What is the preferred composition of the product mix? When is it time to extend the product line or brand and with what type of extension? How can the firm avoid diluting the brand?
- When should a firm prune the product offerings? When is it time to trade ...
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