Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.
What are the types of product/service management?
The three main phases of product/service management are new-product development, monitoring existing products, and elimination of weak products.May 4, 2021
What activities are included in product/service management?
The three main phases of product/service management are new-product development, monitoring of existing products, and elimination of weak products. New-product develop- ment involves idea generation and screening, concept testing, feasibility analysis, product development, test marketing, and commercialization.
How is product service management used?
Product service management (PSM) is a marketing function that focuses on improving a product or service in response to market changes. It involves an ongoing evaluation of their features in order to improve or modify the items as required.May 4, 2021
What are the benefits of product/service management?
- Constant control and good management of goods give more chances to increase sales and profits.
- Modification of goods and the introduction of new products expand the number of customers.
- Increasing sales due to an understanding of demand and the need for goods.
What is a product service management?
Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.