Marketing And The Competitive Environment- Product Flashcards
0
Q
Factors influencing new product development
A
- competition challenging businesses to make new products
- new tech
- entrepreneurial skills
1
Q
Key factors influencing the product
A
- design
- development
2
Q
Product portfolio analysis
A
The study of each of a firms products in an attempt to improve market performance
3
Q
Product life cycle
A
The stages which individual products develop over time:
- introduction
- growth
- maturity
- decline/ extension strategy*
4
Q
*extension strategies
A
- modifying product
- target new markets
- change image
