Product Planning Stages
What is the first stage of product planning where new ideas are generated?
Idea Generation
What is the first stage of the product life cycle?
Introduction
What term describes the range of products a company offers?
Product Mix
What is the term for the route a product takes from producer to consumer?
Distribution Channel
Which distribution strategy aims to place products in as many outlets as possible?
Intensive Distribution
In which stage are potential ideas evaluated to determine their feasibility?
B. Screening and Evaluation
In which life cycle stage do sales increase rapidly, and the product becomes more widely known?
Growth
What is a group of related products called within a company's product mix?
Product Line
This type of distribution channel involves selling products directly to consumers without intermediaries.
Direct Distribution
What type of distribution limits product availability to only certain stores or regions?
Selective Distribution
This stage involves testing the product idea with a sample group of potential customers.
Concept Development and Testing.
During this stage, the product reaches peak sales and faces increased competition.
Maturity
A company’s variety of products and brands is sometimes referred to as its what?
Product Portfolio
What type of distribution channel uses intermediaries like wholesalers and retailers to reach consumers?
Indirect Distribution
Which strategy involves restricting product availability to a few exclusive retailers?
Exclusive Distribution
What is the name of the stage where a product is tested in a small market before a full-scale launch?
Market Testing
In which stage of the product life cycle do sales begin to decline due to new products or market saturation?
Decline
True or False: A strong product mix can help attract more customers and increase revenue.
True
Name one member of a distribution channel besides the producer and consumer.
Wholesaler or Retailer
Name a product in the entertainment industry that might use exclusive distribution.
Limited-edition merchandise, exclusive movie releases, or concert tickets
Which stage marks the official launch of a product to the general public?
Commercialization
Name one common strategy businesses use during the decline stage to extend the product’s life.
Product updates, discounts, or rebranding.
Give an example of a product line within the sports industry.
Examples include a line of athletic shoes, sports apparel, or equipment.
True or False: The use of intermediaries always decreases the final cost of a product for consumers.
False
True or False: Exclusive distribution can enhance a brand's prestige.
True