Consumer Products
Examples of this type of consumer product include: Candy, Chips, Gum, Pop
Convenience
This is the first stage in the product development process
New Product Strategy
Products that are introduced to the public for the first time ever would fall under which category?
New to the world products
Adding additional products to an existing product line in order to compete more broadly in the industry
Product Line Extension
What is the last stage in the product life-cycle?
Decline
This type of product is not pursued by consumers as they might not know about it, or they simply do not want it.
Unsought
In this stage, new ideas are reviewed to see whether or not the idea aligns with the goals and mission of the company.
Idea screening
When car companies release new model years of cars, this would be an example of what type of new product.
Improvement or Revision
A group of closely related product items
Product Line
A rolex watch would be considered what type of consumer purchase?
Specialty
This type of product is very easy to access for consumers, cheap, and might not even be planned out in advance
Convenience
This stage in the product development process includes the process of brainstorming new ideas.
Idea Generation
When Lego decided to create new sets, specifically targeted for young girls, this would be an example of which type of category?
Repositioned Products
Everything, both favorable and unfavorable, that a person receives in an exchange
Product
Coca-Cola has many different product lines, which product line would Coke, Sprite, Barq's Root Beer fall under?
Soft Drinks, Soda, Pop
Examples of this type of consumer products would be: Refrigerators, TV's, iPhones, Gaming Consoles, Shoes
Shopping
In this stage, companies project out financial data to determine the financial feasibility of the new product
Business Analysis
If chevy decided to add a new car to their line of sedans, this would be considered what type of new product?
Product Line Extension
All products that an organization sells
Product Mix
What is an example of a product that has reached the decline stage of the product life-cycle?
This type of consumer product requires consumers to do research and visit multiple stores as this type of product is more expensive
Shopping
Ideas for new products can come from the following people (Provide 3 examples)
Customers, Employees, Consultants, Distributors, Competitors
McDonald's introducing breakfast to their menu would be considered what type of product category?
New Product Line
The practice of modifying products so those that have already been sold become obsolete before they actually need replacement
Planned Obsolescence
Tom is a single dad who has a 6 month old, 5 year old and a 7 year old. He makes about $75,000 a year. He is saving a lot of money for his children's college fund and his retirement fund. He does not make very expensive purchases often and prefers to live a simple life. What would an example of an unsought item be for Tom?
Various Answers