Product Planning
Definition of Product Planning as it relates to Business, Business Planning
Product Planning refers to the process of defining and strategizing the development, production, and marketing of a new product or service offering by a business. It encompasses market research, competitive analysis, feasibility studies, and resource allocation considerations to ensure the successful launch and sustainability of the product in the market. The aim is to align the product with the overall business strategy, customer needs, and market trends while maximizing profitability and minimizing risk.