The product life cycle
7 important questions on The product life cycle
Name the 8 steps in the product development process
2. idea screening: eliminate inappropriate ideas early.
3.initial concept testing: research customers value and test if target groups like the idea.
4. business analysis: estimate the costs and development
5. prototype design : design a prototype to see pracitcality and costs.
6. Market testing: test customers reaction
7. commercialization: introduce the product to the market
8. monitoring of cutomers reaction
Why would a marketer choose to segment?
Explain the concept of line extension:
- Higher grades + faster learning
- Never study anything twice
- 100% sure, 100% understanding
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Explain the concept of brand extension
What three concepts are important when planning branding?
How can a company brand a product? name the 4 ways
2. individual name
3.private label brand
4 multipal brands co branding ingredient branding
What are the 4 concepts that a brand must carry out?
2. meaningful and appealing
capable of being legally protected
suitable for international markets
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