Product Strategies WOB Test Flashcards Preview

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Flashcards in Product Strategies WOB Test Deck (11):
1

What are the 4 types of consumer goods

Convience
Shopping
Speciality
Unsought

2

What are the 4 stages of the Product Life Cycle?

Introduction
Growth
Maturity
Decline

3

What is the Product Development Process

A formal process of Generating,Selecting,
Developing and Commercializing product ideas

4

What are the 6 steps of the New Product Development Process

Idea generation
Idea screening
Business analysis
Prototype development
Test Marketing
Commercialization

5

Product

Good or service that creates value for customers

6

Product line

Group of similar products a company produces

7

What is an example of a product line

The different generations of Apple IPhones

iPhone 5,6,7

8

Product mix

All the products a company offers

9

Brand Manager

A person that develops and implements marketing strategies

10

Brand

What differentiates a product from its competitors

11

Brand equity

The value of the brand

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