| A | B |
|---|
| Benefit | An advantage consumers receie from using a product |
| Brainstorm | To use a creative-thinking technique involving the identification of as many different ideas as possible during a certain time frame; can be done by one person but is used most often in a group setting |
| Bundle | A combination of goods and/or services grouped together and offered as one product |
| Business/Feasibility analysis | Examining such factors as demand, costs, competition, capital investment required, and potential profit of a product or service to determine how it will fit into the company's product mix |
| Commercialization | The point at which a product goes into full-scale production, the marketing plan is put into place, service and sales training are done, and the product's life cycle begins |
| Concept testing | Exploring the concept, or idea, for a product in order to obtain feedback |
| Corporate brand | All the combined customer impressions and experiences associated with a particular company |
| Decline stage | The product life cycle stage in which sales and profits fall rapidly |
| Existing product | Goods or services that are currently being sold |
| Goods | Tangible objects that can be manufactured or produced for resale |
| Growth stage | The product life cycle stage in which sales rise rapidly |
| Idea generation | The process of thinking up or creating new plans, schemes, thoughts; used in creating new products and modifying existing products |
| Introduction stage | The product life cycle stage when the product first appears in the marketplace |
| Licensing | A business structure that requires the authorization or persmission from an owner to another entity to use trademarked, copyrighted (e.g., logo, name) or patented material for a specific activity, during a specific time period, for the profit of both parties |
| Market research | The systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market |
| Marketing strategy | Plan of action for achieving marketing goals and objectives |
| Maturity stage | The product life cycle stage in which sales peak and then increase at a slower rate or start to decline |
| New product | A good or service that has not been offered before, has been modified in some way, or is being presented or distributed in a different manner |
| Positioning | A product mix strategy in which a business creates a certain image or impression of a product in the minds of consumers |
| Product | Marketing element referring to what goods, services, or ideas a business will offer its customers |
