Product Strategy Essay Example | Topics and Well Written Essays - 1500 words

Product Strategy - Essay ExampleConsequently, by incorporating the consumers requirements in the designs, character reference and composition of its carrefours, an organization is in a position to win over client loyalty and guide new and potential customers.The customers role in the research and development of new products is essential. The meaning it plays, as far as profits and sales are concerned is extensive. Many entrepreneurs believe that inventions and innovations commonly improve sales. This is opposed to reliance on customers needs, where one customers demand differs from another customers demand. They believe that what can break this barrier are innovations and inventions and that through innovation, a new product is introduced into the market and bridges the different consumer demands, making such opposing needs to converge (Wahab, 2013). Their paradigm is, however, wrong because marketing as a strategy concept involves, first knowledgeable the target market, then t he needs, wants and demands of the customers. Without knowing consumers demands then it is a waste of time marketing because a business can be selling an irrelevant product that the target market does not need. Pursuant to that is understanding the products and services on strait since this is what will retain customers needs or demands without consumers then marketing ceases to outlive its usefulness. Last is offering high-quality products and ensuring consumer propitiation based on how the product is sold (Howard, 2014).Mark Cohen, in his article in the New York times titled A Revolutionary Marketing Strategy Answer Customers Question, paints a picture of how the proprietor of Riverpools and Spas, Marcus Sheridon, utilise his marketing prowess to move the company which was on the brink of collapse back to prosperity. Where Marcus abandoned received marketing for content marketing this paid