Product development

A product mix is the total number of product lines and individual products or services offered by a company

• true

• false

The creation or introduction of a good or service that is either new, or an improved version of previous goods or services

• 
  Product Innovation

• 
  Brand Management

• Product Line

• Product Strategy

Which question does NOT belong in an economic system?

• What is produced?

• Who gets what is produced?

• 
  How is it produced?

• 
  When is it produced?

, refers to the number of product lines offered by a company.

refers to the variation in products that a company offers within one product line.

Which is not a stage of the product life cycle?

• Introduction

• Product development

• Decline

• 
  Competitive growth

Product line extension is a marketing strategy that uses an existing brand to introduce a new item into the same product line.

• True

• False

The process of establishing and communicating to customers the value of cost of goods and services.

• Financing

• Selling

• Promotion

• 
  Pricing

What factors should be considered when creating a marketing strategy?

• 
  Product positioning helps in marketing a product by creating a unique and favorable perception of the product in the minds of the target customers.

• 
  Product positioning only focuses on the physical attributes of the product.

• 
  Product positioning is only relevant for established brands and not for new products.

• Product positioning has no impact on marketing a product.

What is product planning?

• the process of developing successful products to offer your customers.

• the process of developing unsuccessful products to offer your consumers

• planning out a project

• just putting products out