Abstract
The key to successful product strategy is a balanced portfolio of products that includes both established and new products. New products may result from pressures to customize, or from advancements in technological expertise. While technology-orientated companies may be especially prone to taking their eye off the customer ball, every organization should take care to maintain a market, rather than a product focus. It is important to remember that successful products are those that customers want to buy rather than those that companies want to sell.
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Further reading
Meidan, A. and Moutinho, L. (1999) Quantitative methods in marketing, in M. Baker (ed.), The Marketing Book, Butterworth Heinemann, Oxford.
Morrison, A. and Wensley, R. (1981) Boxing up or boxed in? A short history of the Boston Consulting Group’s share/growth matrix. Journal of Marketing Management 7 (2), pp. 105–30.
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Rogers, E. (1962) Diffusion of Innovations, Free Press, New York.
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© 2003 Malcolm McDonald and Martin Christopher
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McDonald, M., Christopher, M., Bass, M. (2003). Product strategy. In: Marketing. Palgrave, London. https://doi.org/10.1007/978-1-4039-3741-4_8
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DOI: https://doi.org/10.1007/978-1-4039-3741-4_8
Publisher Name: Palgrave, London
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