Product Service Management
A good or service with monetary value that satisfies customers' needs and wants
What is a product?
The unique name, symbol, or design that identifies a product or company
What is brand?
Great Value brand is only sold at Walmart. This is an example of what type of brand
What is a private or store brand?
A company CEO scraps an idea for a product because the product idea never worked in the past. This is an example of
What is idea screening?
At the beginning of the _ stage, few, if any, customers know about the product
What is introduction?
Coca-Cola offers over 500 different products, including sodas, bottled water, tea, juices, kombucha, and energy drinks. All the products Coca-Cola offers makeup it's
What is product mix?
The brand _ is the unique memorable quality of the brand
What is image?
Sony is a brand of products that can be purchased at many different stores. This is an example of what type of brand
What is national or manufacturer brand?
Customers, competitors, academics, foreign sources, and employees are often used to help companies do this
What is generating ideas?
The stage of the product life cycle where consumers decide a product is no longer meeting needs
What is the decline stage?
Proctor and Gamble markets over 250 products that are organized into groups of similar products called
What are product lines?
The legal protection of the words or symbols for use by a company
What is a trademark?
A product with a well-developed image uses the same brand name in different product categories. This is an example of what branding strategy
What is a brand extension strategy?
A _ is often used to first introduce a new product
What is a test market?
The stage of the product life cycle when sales increase and competition is attracted
What is the growth stage?
The number of different product lines carried by a company
What is product width?
The Jolly Green Giant, the Keebler Elf, The Geico Gecko, and the Michelin Man are all examples of
What is trade or brand characters?
The NFL authorizes manufacturers to use NFL logos for a fee, this is an example of
What is brand licensing?
During which step of the new product development process do companies focus on characteristics like market size, marketing impact, and effect on the company image
What is customer acceptance/evalucation?
The stage of the product life cycle where sales peak, most people in a market who would buy the product already have it, and profits start to decline
What is the maturity stage?
Number of versions offered within each product line
The Nike "swoosh" is an example of
What is a brand mark or logo?
A branding strategy in which multiple brand names are created to appeal to different markets
What is mixed branding?
In the _ step of the new product development process, the company determines if it can afford to produce and market the product
What is product development?
The stage of the product life cycle in which there are no competitors, the price of the product is high, but profits are low
What is the introduction stage?