We need to analyse the product using the below criteria. My product is Radio Broadcasting in the USA. Marketing success depends on the demand for the product and demand is driven by 5 major determinants:
- People’s taste for a particular product or service.
- People’s income
- The availability of complements which are other products that need to be used with the primary product. Gasoline, for example, is a complement to an automobile.
- The availability of substitutes for the product.
- Price expectations. There will be less demand if people expect a price to fall. More demand will exist if people expect prices to rise.
These demand determinants need to be considered along with some of the following:
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- What product features would appeal to people in this country/culture?
- Are there supply chain issues?
- Are key resources available and competitively priced?
ONLY USE THE BELOW RESOURCE WHILE ANALYZING THE PRODUCT MARKETING.
Please view the attachment and use the options like About this industry, industry at a glance, Products and market, comp Analysis……while getting the content.