This stage is characterized by consumer awareness and acceptance are limited, sales are zero, profits are negative
What is introduction stage
100
Two approaches to branding include giving each product it's own brand name or this
What is develop a family of brands with the same name
100
This is the most common objective of promotion
What is stimulate demand
100
This is the first step in the product development process
What is idea development
100
The two basic strategies of pricing a new product include price skimming and this
What is penetration pricing
200
This stage is characterized by sales continue to fall rapidly, profit decline and may become losses
What is decline stage
200
This is the external container that holds and describes the product, influences consumers’ attitudes and their buying decisions
What is packaging
200
This promotion strategy attempts to motivate intermediaries to push the product down to their customers
What is push strategy
200
Most products are rejected during this stage of Product Development
What is new idea screening
200
This type of pricing strategy plays off the idea that higher price means higher quality, $9.99 looks better than $10 and encourages purchases based on emotion
What is Psychological Pricing
300
This stage is characterized by severe competition and heavy expenditures
What is maturation
300
This is the presentation of important information on the package, is closely associated with packaging
What is labeling
300
This promotion strategy uses promotion to create consumer demand for a product so that consumers exert pressure on marketing channel members to make it available
What is pull strategy
300
This stage is really expensive and includes developing a prototype
What is product development
300
This pricing objective is used to boost sales and types include quantity, seasonal, and promotional
What is pricing discounts
400
This stage is characterized by sales increase rapidly and profits peak then start to decline
What is growth
400
This reflects the degree to which a good, service, or idea meets the demands and requirements of customers
What is product quality
400
This is the nonpersonal communication transmitted through the mass media but not paid for directly by the firm
What is publicity
400
This is a trial minilaunch of a product in limited areas that represent the potential market
What is test marketing
400
This is made up of a group of organizations that move products from their producer to customers
What is a channel of distribution
500
This stage is characterized by companies may eliminate certain models and drawback on marketing expenditures
What is decline
500
Products can be classified as either consumer or this
What is industrial (business)
500
This is the direct, two way communication with buyers and potential buyers
What is personal selling
500
This is the full introduction of a complete marketing strategy and the launch of the product for commercial success
What is commercialization
500
This type of distribution makes a product available in as many outlets as possible