Foundations of Marketing 5th Edition by Ferrell,William Pride

Exercise 25

A company's marketing strategy may be revised to include new products as it considers its SWOT analysis and the impact of environmental factors on its product mix. When developing a marketing plan, the company must decide whether new products are to be added to the product mix, or if existing ones should be modified. The information in this chapter will assist you in the creation of your marketing plan as you consider the following:
If the product is an extension of one in your current product mix, determine the type(s) of modifications that will be performed.