products Flashcards
1
Q
what is a consumer product
A
goods bought for consumption by the general public
2
Q
what is a industrial product
A
goods bought for use in business processes.
3
Q
what does a product life cycle show (with stages)
A
sales of a product over its life
(development , intro , growth , maturity , decline/extension strat)
4
Q
what does product portfolio analysis show
A
examines the market position for all the products in a business.
5
Q
examples of extension strats
A
revamp the product (new flavours n shit)
find new target market segment
find new usage occasoins ( cereal brand increasing consumption not just in the morning)
