PRODUCT PROGRAM Meaning and
Definition
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Product program refers to a comprehensive or strategic plan designed to create, develop, and manage a range of products offered by a company. It encompasses various aspects such as product design, development, marketing, and distribution. A product program aims to effectively utilize resources and align them with the company's objectives, ultimately achieving customer satisfaction and profitability.
In essence, a product program outlines the steps and processes involved in the entire lifecycle of a product, from conception to post-sale support. This includes conducting market research, identifying customer needs, designing and developing products, setting prices, establishing distribution channels, promoting the products through marketing campaigns, and providing customer service.
A successful product program involves the coordination and integration of various departments within the organization, including research and development, manufacturing, sales, and marketing. It requires strategic planning and decision-making, as well as continuous evaluation and improvement based on market feedback and trends.
Furthermore, a product program may also include portfolio management, where a company manages multiple products across different market segments or industries. This could involve prioritizing investments, allocating resources, and balancing the performance and growth of individual products within the overall program.
Overall, a product program serves as a framework for a company's product-related activities, guiding the development and management of products in accordance with the company's business strategy and goals.
Common Misspellings for PRODUCT PROGRAM
- oroduct program
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Etymology of PRODUCT PROGRAM
The etymology of the word "product program" can be understood by breaking it down into its individual components:
1. Product: The word "product" originates from the Latin word "productus", which means "something produced" or "outcome". It is derived from the Latin verb "producere" meaning "to bring forth" or "to bring forward". In English, "product" typically refers to a tangible item that has been manufactured or produced.
2. Program: The word "program" has its origins in late Middle English, originating from the late Latin word "programma". This Latin word was borrowed from the Greek word "programma" which referred to a public notice or announcement. It is derived from the Greek verb "prographein" meaning "to write publicly". Over time, "program" came to refer to a detailed plan or schedule for an event or activity.
