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19 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Product line
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Group of related products marked by physical similarities or intended for a similar market
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Product mix
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the assortment of product lines and individual goods and services that a firm offers to consumers and business users
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Product life cycle
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Four basic stages--- introduction, growth, maturity, and decline--- through which a successful product progresses
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Introduction stage
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The firm tries to stimulate demand for its new offering inform the market about it, give free samples, and explain its features, uses, and benefits
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Growth stage
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Sales climb quickly as new customers join early users who now are repurchasing the item. At this point, the company begins to earn profits on the new product.
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Maturity stage
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Bollywood industry sales at first increase but eventually reach a saturation level at which further expansion is difficult. Competition also intensifies, increasing product availability.
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Decline stage
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Sales continue to fall, profit Sekine and maybe come losses as further price cutting occurs in the reduce overall market for the items.
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Products
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bundle of physical, service, and symbolic characteristics designed to satisfy consumer wants.
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convenience products
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Items the consumer seeks to purchase frequently, immediately, and with little effort.
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Items stocked in gas station markets vending machines and local news stands for example newspaper snacks candy coffee and bread
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Shopping products
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Typically purchase only after the buyer has compared competing products in competing stores.
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Buying a new sofa or dining room table you may visit many stores examine devin the key to the furniture and then days making the final decision.
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Specialty products
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Those that a purchaser is willing to make a special effort to obtain already familiar with item and considers it to have no reasonable substitute the nearest Lexus dealer maybe 75 miles away but if you decided you want one you will make the trip.
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brand
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A name, term, sign, symbol, design, or some combination that identifies the products of one firm and differentiates them from competitors offering.
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Brand name
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Part of the brand consisting of words or letters included in a name used to identify and distinguish the firm's offering from those of competitors.
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Many brand names such as Coca Cola McDonalds Google and Mikey are famous around the world likewise the golden arches brandmark of McDonald's also is widely recognized.
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Trademark
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Brand that has been given legal protection. Protection includes not only the brand name but also design logos, slogans, packaging elements, and product features such as color and shape .
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A well-designed trademark such as the Nike swoosh , can make a difference in how positively consumers perceive a brand
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Brand equity
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Added value that I respect it and successful name given to a product
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Test marketing
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Introduction of a new product supported by a complete marketing campaign to a selected city or TV coverage area.
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Distribution
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Deals with the marketing activities and institutions involved in getting the right good or service to the firm's customer
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Distribution channel
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Path that products, and legal ownership of them, follow from producer to consumer or business user
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Physical distribution
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Actual movement of products from producer to consumer or business users
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