5H Flashcards
(5 cards)
1
Q
Product life cycle
A
The product life cycle is a series of stages that a product will pass through from the moment it is introduced to the market until the product becomes obsolete or replaces.
2
Q
Price penetration
A
Price penetration is setting prices lower then competitors in an aim to increase market share.
3
Q
Early adopters
A
Early Adopters are customers who are the first to embrace a new product.
4
Q
Brand Image
A
Brand Image is the general impression held by current and potential customers.
5
Q
The 4 key parts of the Product Life Cycle
A
1) Introduction
2) Growth
3) Maturity
4) Decline
