Product Planning Strategies
What is repositioning?
Marketing an existing product in a new way to create a new view of the product in the minds of the customers.
The specialization of individuals who perform specific tasks is _____.
Division of labor
What is a prototype?
A working model of a new product for testing purposes.
Using a new package for an existing product is _____.
Repackaging
In the new product development process, new product is introduced to the market during the _____ stage
Commercialization.
What is a supplier?
Business that sells materials, supplies, or services to an organization that creates product.
Coco-Cola changed their bottles from glass to plastic. What kind of strategy is this?
Repackaging.
_____ is the series of stages a product goes through from its beginning to the end.
Product life cycle.
The idea that people have about someone or something.
Why would a business need to create a new product?
Testing new services before they are commercially available is accomplished through ____.
Trial run
What is compromise?
To give up an individual idea, or part of an idea, so that the group can come to a solution.
To create a new product, what is the first step of the process?
A working model of a new product for testing purposes is a(n) _____.
Prototype
What is procedure?