Product Development

Question 1

Product definition

Answer 1

A product is a physical good or service, person or place tha5 is capable of offering tangible or intangible attributes that organisations or individuals regard as so nessisary worthwhile

Question 2

Types of new products

Answer 2

New to world
New to line
Additions
Improvements
Cost reduction
Repositioning

Question 3

Product life cycle definitions

Answer 3

A new product progresses through a sequence of stages for introduction to growth maturity and decline,

Is assioated with changes in the marketing situation
, thus marketing strategy and marketing mix

Question 4

Product life cycle stages

Answer 4

Introduction
Growth phase
Maturity
Decline

Question 5

Branding definition

Answer 5

A brand is any name , term , sign or symbol or design or a combination of them, intended to identify the goods or services of one seller and to differentiate them from those of competitors

Question 6

What branding can divide into

Answer 6

Visual distriction
Images
Authentic
Replication of itself

Question 7

Benefits of branding

Answer 7

Consumer

• known quality
• identity

Manufacturer

• loyalty
• adds value

Retailer

• branding support
• attracts customers