Product lecture review

MC: ____ is all products a company makes or sells.

• product mix:

• product line

• product item

MC: ___ are groups of closely related products.

• product mix

• product line

• product item

MC:___ is a specific model, brand, or size of product within a product line

• Product mix

• Product line

• Product item

MC: ___ are number of different product lines

• product width

• product depth

MC: ___ a model of the new product.

• prototype

• production modification

MC: _____ alteration in an existing product

• protoype

• product modification

MC: A product life cycle has ____ stages of a product’s life

• 1

• 2

• 3

• 4

True or False: In the introduction phase, the goal is to draw attention to the new product

• True

• False

True or False: In the growth stage, the goal is to build brand preference and increase market share.

• True

• False

True or False: In the maturity stage, sales are steady.

• True

• False