Author: Umar Farooq

Shopping products refer to items that the consumers purchase less frequently and compare with available alternatives in the market. Consumers need time, planning and efforts to take the final decision whether to buy the product or not.

Unsought products typically are products that the consumers are not aware and don’t have any knowledge about it. Consumers have no desire and intention to buy unsought goods under normal circumstances.

The marketing mix is an important and well-known marketing concept. The marketing mix covers the tactical part of any marketing plan.  This concept is also called 4Ps and 7Ps of marketing. The 4Ps are Product, price, placement and promotion.

A market can be defined as a place where buyers and sellers meet to exchange goods, services and other relevant information is called a market. Both these parties can meet in a city, state, province, country and region. The market may be a physical or virtual.

Consumers buy unlimited products every day. Like a human being, every product has a certain life cycle. products start its journey and get older and popular but after some time become less popular and demand for new products increases when introduced in the market. When a company launches a new product, it must be familiar with its different product life …

New Product Development is a process. It is a pathway that directs you to the actual product and actual product lead you to the market. Before company introduce a new product in the market, it goes through almost 8 stages.

We can define a product anything – goods, services and ideas - that can be offered in a market to satisfy customer needs and wants. Product have a bundle of tangible and intangible characteristics.