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Question | Answer |
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Product life cycle | The four stages that a new product is thought to go through from birth to death: introductory, growth, maturity, and decline. |
Line extensions | The use of an established product brand name for a new item in the same product category. |
Labeling | The information attached to or on a product for the purpose of naming it and describing its use, its dangers, its ingredients, its manufacturer, and the like. |
Product adaptation | The strategy of developing new products by modifying or improving on the product innovations of others. |
Product Line | A group of products marketed by an organization to one general market. The products have some characteristics, customers, and/or uses in common, and may also share technologies, distribution channels, prices, services, etc. |
Revenue | this is the total amount of money received by the company for goods sold or services provided during a certain time period. |
Unique Selling Proposition (USP) | An approach to developing the advertising message that concentrates on the uniquely differentiating characteristic of the product that is both important to the customer and a unique strength of the advertisedproductswhencomparedtocompetingproducts |
Print Media Advertising | tangible media, such as magazines and newspapers, to reach consumers, business customers and prospects. |
Social Media | websites and applications that enable users to create and share content or to participate in social networking. |
Marketing Plan | A document composed of an analysis of the current marketing situation, opportunities and threats analysis, marketing objectives, marketing strategy, action programs, and financial statements. |