Product Strategies WOB Test Flashcards
1
Q
What are the 4 types of consumer goods
A
Convience
Shopping
Speciality
Unsought
2
Q
What are the 4 stages of the Product Life Cycle?
A
Introduction
Growth
Maturity
Decline
3
Q
What is the Product Development Process
A
A formal process of Generating,Selecting,
Developing and Commercializing product ideas
4
Q
What are the 6 steps of the New Product Development Process
A
Idea generation Idea screening Business analysis Prototype development Test Marketing Commercialization
5
Q
Product
A
Good or service that creates value for customers
6
Q
Product line
A
Group of similar products a company produces
7
Q
What is an example of a product line
A
The different generations of Apple IPhones
iPhone 5,6,7
8
Q
Product mix
A
All the products a company offers
9
Q
Brand Manager
A
A person that develops and implements marketing strategies
10
Q
Brand
A
What differentiates a product from its competitors
11
Q
Brand equity
A
The value of the brand
