marketing obj
Maturity Phase
Characterized by slowing sales. Target market is saturated with knowledge of the product.
Product Lines
Different product lines comprise a business's product mix. A product line is a group of related products by a manufacturer or sold by a business.
Product Life Cycle
Four stages-introduction, growth, maturity, and decline.
Growth Phase
Increased sales and profits, brought by a widespread knowledge of the product throughout the target market.
Introduction Phase
Most expensive stage of the cycle. A business with spend a significant amount of money on advertising in order to inform the target market about the new product.
Product /Service Management
Refers to all decisions made by a business about what to sell and how to position these products/services in the marketplace.
Product Planning
Refers to identifying product features and methods that will contribute to product sales.
Product Mix
Refers to the collective group of different products produced by a manufacturer or sold by an intermediary/retailer.
Decline Phase
Sales continue to slow but they've reached a point where they are not generating enough profit to cover costs.
Product Width
The number of product lines within a product mix.
Trade Character
a brand identifier personified with humanlike characteristics
Trademark
includes all brand elements registered with the goverment
Brand Mark
the distinctive logo, symbol, or lettering that identifies a particular company or product.
Trade Name
the name of a company that produces a product
Brand Name
the name of a product specific to a business
Product Depth
the number of products within a product line.