Chapter 30-32 Flashcards
Produce positioning
Considering the product’s price and quality, features and benefits, its relation to the competition, and its relation to other products in the product line.
Product mix strategy
Plan for how the business decided which products it will make or stock
Product life cycle
Represents the stages that a product goes through during its life: introduction, growth, maturity, and decline.
Category management
Process that involves managing product categories as individual business units.
Product line
Group of closely related products manufactured or sold by a business
Product item
A specific model, brand, or size of a product within a product line
Product width
Number of different product lines a business manufactures or sells
Product depth
Number of items offered within each product line
Prototype
Model of new product
Product modification
Alteration in a company’s existing product
Product life cycle
Stages a product goes through during its life
Product positioning
Efforts a business makes to identify, place, and sell its products in a market
Category management
Process that involves managing product categories as individual business units
Planograms
Computer- developed diagram that shows retailer how and where products within a category should be displayed on a shelf at individual stores
Brand
Name, term, design, or symbol that identifies a product or service
