Powered by Harvard Business Publishing materials, this module focuses on the three issues a company must address in developing its product policy: 1. Product mix breadth refers to the variety and number of product lines offered. 2. Product line depth is the number of items in a product line. 3. Product item design refers to each product’s specifications. This module contains two Interactive Illustrations: the first, “Altius Golf Ball Positioning,” explores the effect of product positioning on market share in markets with different degrees of cannibalization from the perspective of a golf ball manufacturer that plans to extend its product line. The second, “Product Bundling,” explores how pricing “bundles” of products and services is influenced by their perceived value, using the example of hotel accommodation prices in different locations and for different segments of hotel guests (business travellers, vacationing families, and budget-minded students). The module also contains two videos, one on strategies for creating new product categories and one on using a customer feedback loop to manage the uncertainty of product innovation.
Learning Objectives
- Introduce strategies for drawing upon connections to a company’s existing products to identify new products that will lead to a beneficial product mix.
- Understand key considerations in developing a product line architecture.
- Learn key characteristics of new products that win in the market.
- Examine new product development, ranging from incremental improvement of existing products to radically new products.
- Understand marketing challenges during different stages of the product life cycle.
Delivery Method
Online
Credential
Certificate of Compeltion
Number of Credits
1
Duration
The module will be available for 120 days.
