Question

Which one of the following factors we need to consider to define a product objective?

Answer 1

Science parks and non-governmental organizations

Answer 2

PRODUCT - A product in the market is explained as the good and services which are rendered by the producer to the customers.

There can be several objectives to look up when we talk about a product.

FACTORS ARE -

                   1-NATURE OF PRODUCT

                   2- NATURE OF MARKET

1- NATURE OF PRODUCT - The products available in the market has a variety on the bases of the usage and durability. Products like fashion trends, daily necessity, and luxurious products. when the launch of a new product is in the process then its market share, design, branding, pricing is all done. This can be one factor to consider.

2-NATURE OF MARKET -  It refers to the Geographical, Demographical, Environmental configuration of the market size and the available customers.