| A | B |
|---|
| products | these can be goods OR services like lawncare,bike,haircut |
| Test marketing | This "trying out" in limited areas is not always done with every product as some just go into full commercialization |
| 10-15% | prices charged tend to be this much higher for most newly released products |
| product depth | number of varieties within a product line |
| maturity | in this stage of the product life cycle producers will have to spend lots of money fighting competition |
| developing business proposal | the phase of new product development when you look at sales, costs, production requirements |
| product development | phase when some companies (like pharmeceuticals, food) may take several years due to extensive scientific testing |
| introduction | Usually the most expensive stage in the product life cycle |
| decline | the "compare and save" stage when companies must discount a product |
| product width | number of different product lines a company sells |
| line extension | adding new products to line not necessarily related to the first |
| product mix | everything company makes or sells |
| growth stage | focusing on customer satisfaction while competitors try to get a product out is a part of this stage of the life cycle |
| product modification | slightly changing the existing product |
| product positioning | creating an image for a product |
| product extension | Adding a new formula to the original line is an example of this |
| Developing the product | Technical Problems are detected at this phase in the new product development process |
| Developing the product | the phase of new product development when the company focuses on product packaging labeling, and distribution decisions |
| Screening Ideas | New products ideas are evaluated to see if they may conflict with exisiting products |
| Update | To revive a product in the decline stage a company might do this |
| screening ideas | when companies match their objectives against the idea for a new product |
| product line | a business’s group of closely related products |
| product planning | includes ALL decisions about a product including packaging, branding, features and services needed to sell a product |
| product width | the number of different product lines a business sells |
| regionalize | to restrict sales of a declining product to certain local areas |
| slotting fee | a manufacturer might have to pay this during maturity stage to keep shelf space |
| product item | ONE specific model, brand, or size |
| planogram | a manufacturer’s technique for helping retailers maximize shelf space by providing this floorplan or where products should go in the store |
| category | group of product lines with same target market |
