1.) Develop and idea for a new product that customers want to buy.
2.)Turn idea into a workable product design.
3.)Be able to produce the product and make it available to consumers at a price they are willing to pay.
What is the steps of Product Development
100
Dollar value placed on a good or service.
What is price.
100
routes followed in the process of making a product or service available for use or consumption by the consumer or business user.
What is Distribution channels
100
inexpensive items that consumers purchase without much thought
What is convenience goods
100
A group of items that are sold together because of marketing,technical, or end-use considerations.
What is Product line
200
An assembly process produce a large number of identical products
What is Mass production
200
Debts incurred in the routine operation of a business.
What is operating expenses.
200
business involved in activities that move products from the producer to the final user
What is Intermediary
200
Unprocessed primary materials that comes from nature and use to make product
What is Raw materials
200
A name, term, design, symbol, or combination of these elements that identifies a product or service and distinguishes it fro its competitors.
What is Brand
300
a nonphysical product that cannot be seen or examined before purchase
What is Intangible product
300
A reduction in selling price used to reduce inventory as a result of buying errors, promotional pricing, or sales techniques.
What is markdown.
300
a marketing channel that has no intermediaries
What is Direct marketing channel
300
business assistance and/or advice provided for a fee by one business to another business
What is business-to business services
300
A satement that specifies the exceptions to and exclusions from a warranty
What is Disclaimer
400
A group of people who offer opinions about a product of service
What is consumer panel
400
A special pricing technique that sets a limited number of prices for specific groups or lines of merchandise
What is price lining.
400
a channel containing one or more intermediary levels
What is Indirect marketing channel
400
business image, customer considerations, and product/service considerations affect
What is business image
400
Cost + Expenses / Selling price = ??????
What is Breaking-evening point
500
Planning the quantities of materials and supplies needed for production and the number of finished product required to fill customer orders
What is Inventory management
500
The point at which sales revenue equals the costs and expenses of making and distributing a product.
What is break-even point.
500
channel consisting of one or more independent producers, wholesalers, and retailers, each of which is a separate business making its own decisions about providing what its customers want
What is Conventional distribution channel
500
The stages product goes though during it life
What is Product life cycle
500
A promise that a product found to be defective within the warranty period will be repaired or replaced at no cost to the purchase