Page 156 - E1 Integrated Workbook STUDENT 2018

Chapter 11

Product

5.1 Product portfolio

The following are elements of a typical product portfolio:


Product The individual product.
 item




Product A collection of product items that are closely related.
line

 Total product lines. Consists of:
Product

mix  Width – the number of product lines.

 Depth – the number of product items within each line.

5.2 The product-life cycle

The marketing mix will change over time as the product passes through different
stages of its existence.

Introduction Growth Maturity Decline

Revenue

Time
Two additional stages are sometimes included:

 Product development – comes before ‘introduction’.

 Market shakeout – comes between the ‘growth’ and ‘maturity’ phases.

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