American Journal of Marketing Research
Articles Information
American Journal of Marketing Research, Vol.1, No.3, Oct. 2015, Pub. Date: Aug. 3, 2015
Product as the Main Marketing Tool
Pages: 130-135 Views: 3741 Downloads: 1380
Authors
[01] Romana Hricova, Department of Manufacturing Management, Faculty of Manufacturing Technologies with a Seat in Presov, Technical University of Kosice, Bayerova, Presov, Slovak Republic.
Abstract
Nowadays, marketing is considered one of the main tasks of each business. It is not only an important element of business because its mission is to satisfy customers, but also strong tool in the business competition. Every company which wants to make a business successful must pay attention to product, product quality and know how to sell the products. The article deals with part of product portfolio in chosen Slovakian company, where is shown, how company has to work on its portfolio. Analysis was used to divide 37 selected products which were ranked according to profitability above the cost of production and annual sales volume in four quadrants of the matrix. This division allows the company subsequently adjusts their product portfolio, optimize it and take action according to how beneficial the product is. As it turns out, it is important not only profitability, but annual volume sales of the product as well. Finally, recommendations for individual quadrants allow company to stabilize its portfolio, to stop unnecessarily lose out on those products that do not produce income, but on the other hand, sensitivity select those products, where there is a chance to propose measures for improvement.
Keywords
Product, Matrix, Quadrant, Product Placement
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