30. Usung The Marketing Mix: Product Flashcards
Product line
A set of related goods or services
Product mix
The full range of products offered by business also known as product portfolio
Unique selling point
A feature of functional product that makes it different to any other products on the market
Product differentiation
Creating a perceived difference for a product in a competitive market
Product portfolio analysis
Analysing the existing product mix to help deliver a balanced range of goods and services
Boston matrix
A method of analysing the products in the first portfolio based on relative market share and market growth
The product life-cycle
The sales path of a product from its introduction to the market to its eventual disappearance from the market
Product development
Changing aspects of goods and services to meet the changing needs of existing customers or start a different market
