Definition: [ˈprɑdəkt ˈmɑrkətɪŋ] is a set of strategic tools aimed at the effective representation of a new product or service. Creating and launching a new product on the market is a step-by-step process of transforming ideas into a product, and then into a good. The development of new products, the organization of their production and market entry are expensive and involve an increased risk. This is one of the reasons why companies most often associate the development of new products with the improvement and modification of existing goods. The development and introduction of new products to the market are carried out in accordance with the principles and methods of innovation policy.
Product Marketing In a Sentence:
- Properly developing a strategy of product marketing will greatly facilitate the presentation of our product on the market.
- The company incurred losses due to the incompetence of the product marketer.
Synonyms and related words: commodity marketing, brand marketing, output marketing
