Maturity Stage- market is saturated, no growth left in the market, profit continues to slide downwardĭecline Stage-usually product substitution and sales fall rapidly Growth Stage- increased promotional expenses, increased units sold, and decreased selling price, profit topping off Introduction stage- when the first unit is sold, end is when industry breaks even and begins making a profit
commercialization- refining and finalizing plans and budgets for full-scale manufacturing and marketing test marketing- limited intro of product in geographic areas chose to represent intended marketħ. Product development- determine if producing product is feasible and cost effectiveĦ. business analysis- evaluate potential impact of a product idea on the firm's sales, costs, and profits (profit potential)ĥ. concept testing- form of marketing researchĤ.
screening-selecting the ideas with the greats potential for further reviewģ. communicate quality or premium nature of productĢ. protect product and maintain functional formĤ. P&G and mattel agree on crest/barbie toothbrush, (two brands from two companies on one product)ġ. Yoplait and general mills agree on trix yogurt, yoplait pays 10% of wholesale income to general mills to use Trix name Using existing brand name on a new product in a different category arm & hammer) they use this in every of their products Product that is not linked to the manufacturer, but carries the label of a retailer or wholesaler pillsbury dough boy))Īware brand exists and there is an alternative if preferred brand is unavailableīrand offered and promoted by a manufacturer or producer The symbol of the design that cannot be spoken (symbol or design for product (Ex.
The part that can be spoken including letters, words, numbers (ex. of these that identifies a seller's products and distinguishes it from competitor's product secret deodorant, ivory soap, crest toothpaste)Ī name, term, symbol, design, or combo. The total group of products that an organization makes available to customers (ex. The decisions and activities intended to create and maintain a firm's product concept in customers' mindsĪ group of closely related items that the organization considers to be a unit (ex.