Marketing Concept

 

1. PRODUCT CONCEPT

Identify the physical attributes, customer benefits, and competitive advantages of the product (or service) to be offered by the organization.  Analyze geographic, economic, cultural, and legal factors that would influence offering a standardized or an adapted product for this market.  

2. PRODUCT LIFE CYCLE

Discuss economic, cultural, political, or technological factors that might affect the speed of movement of the product (or service) through the stages of the product life cycle (introduction, growth, maturity, and decline).  

3. TARGET MARKET

Describe the characteristics of potential customers in terms of geographic location, demographics, media habits, consumer behavior patterns, and lifestyle activities.