No modern production in a market economy exists without a well-defined marketing strategy. Part of this strategy is the product policy of the enterprise, as the leading link in determining the effectiveness of the entire production cycle. Only a well-designed and enforced product policy of an enterprise can give the owner an idea of the final financial result of all production activities after the successful implementation of the final product, namely the product.
The formation of the product strategy of the enterprise should be focused on the real requirements and wishes of consumers. Ultimately, the product policy of the enterprise, which is carried out under the guidance of a reliable and qualified team of marketers, should ultimately be aimed at.
The product policy of the enterprise should begin with research and analysis of the market for similar goods and services. This is a very important stage in the marketing activities of any enterprise. Depending on the market size and sales policy, research can be carried out on your own, or you can invite third-party experts who are guaranteed to conduct all marketing research in the shortest possible time and issue not only their conclusions, but also effective recommendations for the company's further product policy.
The next step will be to determine the goals of the production policy of the enterprise, taking into account the entire modern resource base. The company’s marketing department must make timely calculations of the rate of updating the product range, with the possible formation of a new product range. This is a complex innovation process in the production sphere that can be invested using own or borrowed funds. The company's management will justify the rationality of using such tools. Further trade policy of the enterprise will show how true the actions of all the services of the company were, identify its weaknesses and show the entire life cycle of the production cycle.
The choice of the concept of product policy of the enterprise consists of several main stages:
- Assorted enterprise concept. Its goal is to orient the enterprise towards the production of goods that will maximally correspond to the diversity and structure of demand of a particular consumer.
To fulfill the assortment concept, they determine the current needs of consumers, and analyze similar product markets. They also analyze the possibilities of production and make up the final idea of the assortment of products of the enterprise.
- Development of the concept of a new product of the enterprise, which consists in a description of all indicators of the product, as well as a set of possible benefits that it can give to the end consumer. Be sure to compile technical and economic characteristics of the new product. Marketing services should at this stage determine the nature and degree of development of possible product competition, as well as consider the positioning of a new product and determine its place among other similar products.
- A product plan is drawn up, indicating the list of goods that the manufacturer must produce for the time period indicated in the plan. The volume of output in value and physical terms, the sizes of lots of goods, the optimal production schedule, indicating the timing of the start and end of work are determined.
- A plan is drawn up of all necessary measures to achieve the set goals, which describes the marketing policy of the enterprise. The plan additionally defines the ultimate goals of all marketing activities, appoints supervisory and executive persons, indicates all cost items and the optimal amount of necessary funding.
In the future, a team of enterprise managers should draw up a budget for the company's product policy, monitor the implementation of all measures and take into account all possible risks in the process of product policy.