The concept of marketing rests on four pillars which are:
– Product
– Price
– Placement
– Promotion
These variables are within the influence of an entrepreneur. The most important pillar is the PRODUCT. Without a quality product, every other marketing effort would be futile.
Every product passes through the introduction phase, the growth phase, the maturity phase, and the decline phase. This is considered its lifecycle.
As a business owner, having an interest in developing excellent products that meet customers’ expectations and also understanding strategies to maximize its lifecycle is crucial for business success.
Follow the link below to get a free download of “A Guide To Product Development for Startup Entrepreneurs”