The role of planning in the marketing Of new oroducts

The need for product planning an inherent part of long term business planning is the development of new products and services. Its importance has been particularly evidenced during the 1970s, a decade of increased challenges for business executives. The 1980s will serve as a further test of the ability of corporate executives to successfully generate, develop and market new products and services within the context of a changing complex environment. In particular, management must be concerned in product planning with changes in consumer tastes and at‐cultural life style changes, competition, government and economic changes.