| A | B |
|---|
| products | both goods and services that have monetary value |
| core product | the main product that the customer is buying |
| facilitating product | goods or services that aid in the use of the core product |
| supporting product | extra goods or services that accompany the core product to add value or differentiate it from the competition |
| product life cycle | the various stages that a product goes through during its existence |
| product development | the life cycle begins with an idea for a new product |
| introduction stage | begins with the product launch |
| growth stage | more retailers will carry the product as demand increases |
| maturity stage | sales slow down because the product is not attracting new customers and repeat customers stop buying |
| decline stage | sales begin to fall off |
| customer satisfaction | a positive feeling or reaction customers have when a business or product meets their needs |
| customer loyalty | a customer's faithfulness to a business and its product, demonstrated by that customer purchasing the product again |
| relationship marketing | building relationships with customers by adding value to the interaction that will lead to long-term customer satisfaction and retention |
