Chapter 11: Developing and Managing Products

One of the most important factors that make up a company is its products. Products are goods or services that are created or manufactured for sale. The products a company sells determines sales and initially the amount of money the company takes in. That is one of the reasons products are such a crucial element in marketing. They can literally make or break a company.

One way a company can keep on top of the selling of its products is to make sure that the customers are never bored with the product or. Companies can accomplish this my using a tactic known as product development. This is when a company either improves on an existing product or creates new products for the market. Tiffany & Co. often comes out with new line of jewelry, holding the consumer's attraction and attention. One of Tiffany's newest additions to the collection is known as the "Tiffany Locks" collection. Tiffany & Co. describes this new collection as "Charming yet dignified. Vintage-inspired yet completely contemporary. And above all, efforlessly chic."