Marketing: Ch. 30

During this stage of the product life cycle, the goal is to draw customer's attention to the new product.

• Introduction

• Growth

• Maturity

• Decline

Includes all the different products a company makes or sells.

• Product Mix

• Product Line

• Product Item

• Product Width

This step of new product development is also known as commercialization.

• Develop a business proposal

• Test the product with consumers

• Introduce the product

• Evaluate customer acceptance

During this stage of the product life cycle, the company seeks to build brand preference & increase market share.

• Introduction

• Growth

• Maturity

• Decline

A group of closely related products manufactured or sold by a business.

• Product Mix

• Product Line

• Product Item

• Product Width

A specific model, brand, size of a product within a product line.

• Product Mix

• Product Line

• Product Item

• Product Width

During this stage of the product life cycle, sales fall & profits are smaller than expenses.

• Introduction

• Growth

• Maturity

• Decline

The number of different product lines a business manufactures or sells.

• Product Mix

• Product Line

• Product Depth

• Product Width

During this stage of the product life cycle, most money is spent on advertising & producing the product. It is the least profitable stage.

• Introduction

• Growth

• Maturity

• Decline

During this stage of the product life cycle, the product is enjoying success, sales profits are increasing.

• Introduction

• Growth

• Maturity

• Decline