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12 Cards in this Set
- Front
- Back
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Product
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the end result of the production process sold on the market to satisfy a customer need
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Consumer durables
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manufactured products that can be reused and are expected to have a reasonably long life, such as cars and washing machines
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Product line
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a set of related products sold by a business
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Product mix
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the variety of product lines that a business produces or a retailer stocks
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Product range
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all of the types products made by a business
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Product life cycle
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the pattern of sales recorded by a product from launch to withdrawal from the market
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Extension strategies
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marketing plans that extend the maturity stage of the product before a brand new one is needed
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Boston Matrix
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a method of analysing the product portfolio of a business in terms of market share and market growth
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Brand
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an identifying symbol, name and image of trademark that distinguishes a product from its competitors
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Brand awareness
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extent to which a brand is recognized by potential customers and is correctly associated with a particular product- can be expressed as a percentage of the target market
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Brand development
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measures the infiltration of a product’s sales usually per thousand populations. If 100 people in 1000 buy the product, it has a brand development of 10
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Brand loyalty
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the faithfulness of consumers to a particular brand as shown by their repeat purchases irrespective of the marketing pressure from competing brands
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