planning related to the development, modification,
production and sales of products.
Product planning utilizes
market research,
public opinion surveys, sales
statistics, etc., to
determine what products to introduce or
develop, what designs, features or modifications to
incorporate in products, what
quantity to
produce, what
price to
charge, what markets to
develop or utilize, etc.
Product planning is a
similar term to
product strategy but the latter implies a strategy resulting from
product planning.