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Product
Stages of new Product Planning
Mix, Level, Extension
Product Line/Package and label
Brand/ Product life Cycle
100
A good or service produced and sold to consumers and other businesses.
What is a Product?
100
Trial run to ensure the market/demand is there Evaluate your market mix to see if the product meets the need of the target market.
What is Develop a Market Strategy.
100
Includes all of the different products a business sells.
What is Product Mix
100
A group of closely related products with slight variations developed by the same business.
What is Product line
100
Rapid growth in sales and profits
What is Market Growth.
200
the result of research and study of target markets.
What is a Successful Product?
200
This is like the business plan for the product. It is an examination of the product screening process at a detailed level. It looks at size of market, cost of production, marketing, sales, and profit projection. Check to see if the product fits with the overall goal of the company.
What is Business Analysis
200
This is what the mix usually begins with.
What is Basic Product
200
Protect the contents. Are also used to promote and differentiate the product on the shelf.
What are Packages
200
Grants a business the exclusive right to use a brand name, symbol, or design. Coke bottle, Nike swoosh, Golden Arches are all examples of brand.
What is Trademark
300
A company may_____a product somewhere and then try it all over the US.
What is Pilot?
300
.Reject those that won’t work for any reason .Determine which ones have the most potential
What is Screen ideas
300
A company may offer an this to increase customer satisfaction.
What is a Extended product
300
Packages serve these two purposes.
What is protection and promotion.
300
Licensed Brand
What is a well known brand owned by one company and sold for use by another company.
400
Finding a new use for a product will create a _____ to the product.
What is Newness
400
It's part of one on the stages in Stages of new product planning. "Find out your customers needs and then have them help you find the solution."
What is stage 1. Generate ideas
400
An extended product may offer these to increase the value of the original product.
What is services, complimentary products, guarantees, warranties, and other products
400
Serves two points…promotion (showing your brand name) and distribution of information.
What are Labels
400
Market Introduction Market Growth Market Maturity Sales Decline
What is the Product Life Cycle
500
Most _____products involve change or improvement to existing products. Ex: Laundry detergent was once only powder and now you have liquid and concentrate.
What is new
500
1.Generate ideas 2.Screen ideas 3.Prepare a business analysis 4.Develope a Marketing strategy 5.Develop and test the produs=t 6.Market it
What are the stages of new product planning?
500
Three things that must exist when developing the product mix.
What is Product line, Package and Label, and Brand.
500
Example: Paul Mitchell offers shampoo, conditioner, and styling products. But also has 12 shampoos, 8 types of conditioners, and 20 types of sprays and gels.
What is Width and Depth
500
the combination of unique qualities of a company, product, or product line. It is the main way a company differentiates itself from the competition.
What is Brand