PRODUCT GROWTH Meaning and
Definition
-
Product growth refers to the process of increasing the market share, customer base, and revenue of a particular product or service. It involves a series of strategies and actions aimed at expanding the reach and impact of the product in order to achieve business goals and objectives.
In essence, product growth is about continuously improving and enhancing a product to meet the changing needs and demands of the target market. It encompasses activities such as product development, innovation, marketing, and sales to drive its adoption and usage among customers.
Product growth can be achieved through various means, including launching new features, entering new markets, improving product quality, expanding distribution channels, and building brand awareness. It requires a deep understanding of customer preferences, market trends, and competitive landscape to guide decision-making and shape the product's growth trajectory.
The ultimate goal of product growth is to generate sustained and profitable growth for the business. Successful product growth initiatives can result in increased market share, higher customer loyalty, improved financial performance, and enhanced competitiveness.
Overall, product growth is a multidimensional and dynamic process that involves continuous adaptation and improvement to ensure the long-term success and relevance of a product in the market.
Common Misspellings for PRODUCT GROWTH
- oroduct growth
- lroduct growth
- 0roduct growth
- peoduct growth
- pdoduct growth
- pfoduct growth
- ptoduct growth
- p5oduct growth
- p4oduct growth
- priduct growth
- prkduct growth
- prlduct growth
- prpduct growth
- pr0duct growth
- pr9duct growth
- prosuct growth
- proxuct growth
- procuct growth
- profuct growth
- proruct growth
Etymology of PRODUCT GROWTH
The word "product growth" does not have a specific etymology, as it is a combination of two separate words with their own origins.
1. Product: The word "product" originated from the Latin word "productus", which means "something produced". It entered into the English language in the mid-15th century with the same meaning of something manufactured or created.
2. Growth: The word "growth" can be traced back to the Old English word "growan", which means "to grow, increase in size". It has been used in the English language since the 14th century, referring to the process of development or expansion.
When these two words are combined, "product growth" refers to the expansion, development, or increase in size or popularity of a particular product.
Infographic
Add the infographic to your website:
