| A | B |
|---|
| Product Lify Cycle | The evolution of a product/service on teh market. |
| Market Share | The business' percentage of total sales generated in a specific market. |
| Product Mix Strategy | A plan of action taken in selecting an appropriate product mix to achieve company goals. |
| Market Research | A system of collecting, recording, and analyzing info about customers, competitors, and products that could influence potential success. |
| Market/Product Position | The image a product or business has in relation to its competition. |
| Maturity | Sales level off or slow down. Decide whether or not to improve the product. |
| Introduction | Draw attention to a new product. |
| Decline | Sales fall and the company must decide whether or not to keep the product. |
| Growth | Sales of a new product are increasing and new models are introduced. |
| Manufacturer Brand | Easily recognizable b/c of national advertising. |
| Private Brand | Owned and introduced by wholesalers and retailers. |
| Generic Brand | Offered by discount stores and supermarkets. |
| Packaging | Physical appearance of the product 0 inlcudes container, wrapper, etc. |
| Labeling | Presents information about the product contents, direction for use, and safety. |
