chapter 7 and 8 marketing text
in managing new product ideas, which of the following allows for a holistic and systematic process
installing and innovation management system
successful service marketing depends on external marketing using the four Ps. service marketing today also requires two nontraditional marketing approaches?
internal and interactive
a new product may fail for many reasons.
poor product positioning, poor marketing research, overestimated market size, poor product design
marketer must make important decisions when developing individual products and services. which of the following correctly identifies those important decisions?
product attributes, branding, packaging, labeling and logos, and product support service
definition of product
product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need
marketers must consider potential product issues related to social responsibility. list product issues associated with social responsibility
product safety, patent protection, product warranties, public policy issues and regulations
product mix width
refers to the number of different product lines the company carries
services are characterized by four key aspects
services are intangible, inseparable, variable, and perishable
two ways firms can obtain new products
acquisitions and new product development
when company builds a brand it needs to make important strategic decisions regarding the brand.
brand development, brand positioning, brand name selection, brand sponsorship options
describes classifications into which consumer products fall
convenience, shopping, specialty, unsought
during the introductory stage of the product life cycle model
distribution expenses are high, sales growth is apt to be slow, the intro stage starts when the product is launched, promotional expenses are high
what is the first step in the new product development process
idea generation
what are the four strategies marketers can use develop their brands
line extensions, brand extensions, multibrands, and new brands
which stage of the product life cycle normally lasts longer than other stages and poses strong challenges to marketing management?
maturitt
product mix length
total number of items a company carries within product lines