Product Strategy: Successful and Unsuccessful Products

Product Strategy
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Product Strategy
Product is a term used to refer to an item that a business offers to customers. The main aim of the product should be to fill a gap in the market or satisfy consumer demand for a product that already exists. Before designing a marketing campaign, marketers should know what products are being sold, how different it is from competitors' products, and whether there are alternative products in the market (Thabit & Raewf, 2018). Marketers have difficulty translating the desired advantages of product design, characteristics, and product strategy per the consumer's needs. Consumers make purchase decisions based on the benefits they get from purchasing a product; therefore, consumers expect particular values from the product they are buying, not only the product. A product can either be successful or unsuccessful in the market.
There are several real-world examples of products that have been successful and products that have been unsuccessful. For instance, an example of a successful product is Popeye's chicken sandwich. Most believe Popeye's chicken ...