Product

• Cost

  The money required to make a product:

  -rent

  -wages

  -energy ect.
• Price

  The amount of money the final customer pays to buy the product

  -some companies have lots of choice over price. if there are few alternatives/not much competition and if the product is in high demand
• Research and Development

  The process of researching ways to make the product better and developing the product using the design mix
• Market Research

  Researching your customers and competitors to decide on your marketing mix
• Prototype

  A new product made for testing but not yet for sale