Page 39-49 Flashcards
0
Q
what is market research
A
gathering information about customers competitors and market trends
1
Q
define market segment
A
group of customers in a market with similar characteristics
2
Q
define product trial
A
when consumers buy a product for the first time to assess whether or not they want to buy again
3
Q
stages of product life cycle
A
intro, growth, maturity, decline
4
Q
what would a business call their range of products
A
product mix or product portfolio
5
Q
define brand
A
named product that’s consumers see as being different from other products and can associate and identify
6
Q
4ps
A
product place price promotion
7
Q
describe just in time stock control
A
stock is delivered only when it is needed by production system
