What is Product Map in Marketing?

Learn Product Map definition in marketing with explanation to study “What is Product Map”. Study product map explanation with marketing terms to review marketing course for online MBA programs.

Product Map Definition

  • Competitors' items that are competing against company X's items.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong

Product Map Explanation

An item guide is an abnormal state visual outline that maps out the vision and heading of your item offering after some time. An item guide imparts the why and what behind what you're building. It's a directing key archive just as an arrangement for executing the methodology. In a perfect world, your guide ought to pass on the vital course for your item. What's more, it ought to likewise bind back to the procedure for the organization. Inside that system, obviously, is the general request of what you'll be building. Plainly articulating the item vision and procedure can make it simpler to verify official purchase in and to guarantee everybody is progressing in the direction of a shared objective. Note that guides aren't restricted to items. These destinations are comparable for different kinds of guides, for example, promoting guides and IT guides.

Keep Learning Marketing Explanations

What is E-Commerce?

E-commerce is an abbreviation of electronic commerce, describes the sale and purchase of good and services via internet. It uses ...

What is Direct Product Profitability (DDP)?

Direct product profitability is a technique of calculating product handling cost, it starts when it reaches warehouse till the process ...

What is Price Discrimination?

Value separation is a selling methodology that charges clients various costs for a similar item or administration, in view of ...

What is New Task?

New assignment buy is the one buy choice that has not been done already by the business as they didn't ...

What is Marketing Channel Management?

Marketing Channel management have two different ways to see the consistently expanding number of showcasing channels accessible today. Bedlam or ...

What is Integrated Marketing Channel System?

Coordinated multi channel promoting isn't just an innovative issue. It is somewhat a vital, trans-formative way that organizations, particularly the ...