| A | B |
|---|
| weak product | product whose sales and profitability are declining |
| commercialization | product goes into full scale production; product life cycle begins |
| decline stage | product life cycle stage in which sales and profits fall rapidly |
| growth stage | product life cycle stage in which sales rise rapidly |
| introduction stage | product life cycle stage when product first appears in the marketplace |
| maturity stage | cycle stage in which sales peak then increase at a slower rate |
| prototype | an early sample or model of a product |
| test marketing | process of introducing a new product to a limited market to determine what its acceptance will be |
| positioning | a strategy in which a business creates a certain image or impression of a product in the minds of consumers |
| new product | a product that has not been offered before, has been modified or is being presented or distributed in a different way |
| marketing strategy | plan of action for achieving marketing goals and objectives |
| introduction, growth, maturity, decline | four stages of the product life cycle |
| point-of-sales systems | scanners, touch screens, hand held devices used at checkout stands |
| enterprise resource planning systems ERP | software that allows all parts of the company's management to be integrated |
| planned obsolescence | making products that will change quickly or will not last long so people will need to replace them |
| price skimming | high price for a new product to help recuperate development costs |
| penetration pricing | low price for a new product to get the product to as many customers as possible; flooding the market |
