Enterprise and marketing in the development of products 3.1.13

Question 1

What are the stages of the life cycle of a product?

Answer 1

Product Introduction - Marketing the product to the market advertising
Product growth - the product grows, competitions
Maturity - keeping the product at its peak
Product decline - product will eventually decline

Question 2

What is a direct cost?

Answer 2

A direct cost is a cost associated with the product
- e.g wages, supplies, materials

Question 3

What is an Indirect cost?

Answer 3

A cost that is not associated with the product itself.
- e.g security, electricity, and power

Question 4

What is collaborative design?

Answer 4

Working in a design team and sharing expertisie

Question 5

What is retargeted Marketing?
(social media)

Answer 5

Uses data collected from cookies on a customer’s browsing history to introduce pop-up adverts the next time they log in.

Question 6

What is Viral Marketing?
(social media)

Answer 6

When a customer passes a marketing message to his or her friends.