Busn 201 - Chap 16 Test
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| A. - Expense items (consumed within a year)
- Capital items (permanent such as business buildings, fixed equipment.B. - Product extension: global market
- Product adaptation: adjusting the way the product is viewed globally.
- Reintroduction: reviving new market products that are obsolete in older markets.C. - Convenience goods: Inexpensive and purchased frequently.
- Shopping goods: more expensive, purchased less frequently and customers evaluate alternatives.
- Specialty goods: (Wedding gowns) and customers have strong preferences. D. - Product ideas
- Screening
- Concept testing
- Business analysis
- Prototype development
- Product testing and test marketing
- Commercialization (if test market is positive).E. - Communicating information
- Positioning products
- Adding value
- Controlling sales volumeF. - Introduction
- Growth (sales climb rapidly)
- Maturity (sales begin to slow, profits +)
- DeclineG. A group of products that a company have available for sale.H. - Branding: uses symbols to communicate qualities of product.
- Packaging: physical container which a product is sold.
- Label: identifies name, manufacturer, contents.I. - Informative: usually in the introduction stage.
- Persuasive: Influence the product over another.
- Comparative: directly compare two products.
- Reminder: usually in maturity stage to keep the name in the minds of customers.J. - Buyers recognize the need
- Buyers seek information about the available product
- Buyers compare competing products
- Buyers purchase products
- Buyers evaluate products after purchase.
K. - Newspaper (historic)
- TV
- Direct mail
- Radio
- Magazines
- Outdoor
- Word of mouth
- InternetL. Advertising, personal selling, sales promotion and public relations.M. to keep the product's name in the mind of the consumer, especially during the maturity and decline stages of the product life cycle.N. - Trademark: exclusive legal right to use a brand name.
- Patent: Exclusive legal right to use and license a manufactured item.
- Copyright: Exclusive ownership for books, articles, designs, illustrations. |
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