When developing a new product for a company, a series of steps need to be completed – as often discussed in marketing principles textbooks in the product mix chapter, under the heading of the individual product decisions.
The main steps that are usually discussed in marketing textbooks include:
- product attribute decisions
- branding decisions
- packaging and labeling decisions
- product support services/product augmentation
Product attribute decisions
The steps start with the design of the product itself – the decisions relating to the product attributes (in particular, product quality, product features and product design/style). Please refer to the separate article on this site regarding product attribute decisions.
The second step is a decision in regards to branding. There are multiple branding decisions to be made, including:
- Is a brand required at all?
- How should the brand be structured?
- Does the product need to have the support of an umbrella brand?
Please refer to the separate article on branding decisions on this website.
Packaging and labeling decisions
If the product is a physical good, then various decisions in our large warehouse to packaging and labeling need to be made. Packaging has multiple roles, including promotion, identification, brand support, as well as a role in transport and logistics. Please note there is a separate article on this website that discusses packaging in more detail.
Product support services decisions (product augmentation)
The next stage is developing the product’s support services, this is sometimes called referred to as product augmentation (where additional services are provided). Again refer to the separate article on product augmentation on this website.