1.

Concept development creates a

detailed version of the idea stated in
meaningful consumer terms, and it
also asks target consumers to
evaluate the product. STAGE 3.
2. Product development costs increase
substantially in later stages so poor
ideas must be considered and should
not be discarded as vital information
3. Idea generation can be internally or
externally sought out for information.
4. Introduction stage is where the
product experience low sales, high
cost per customer, negative profits,
and innovators are targeted, and there
is little competition.
5. The marketing strategy for maturity
stage is to diversify brand and models
for the product, price should set and
match the competition, and advertise
to stress brand differences and
benefits
6. Decline stage is where sales are rapid,
profits are growing, and there is an
increase in competition level.
7. The product life cycle consist of stages
as innovators, early adaptors, early
majority, late majority and laggards.
8. Not all products follow the cycle since
some are fads, styles, and fashions.
9. The stages in new product
development consist of idea
generation, idea screening, concept
development testing, marketing
strategy development, business
analysis, product development, test
marketing and commercialization.
1. An activity, benefit, or satisfaction
offered for sale that is essentially
intangible and does not result in the
ownership of anything.
2. Anything offered to a market for
attention, acquisition, use, or
consumption that might satisfy a need
and want.
3. Type of consumer product where there
are frequent purchases bought with
minimal effort and little comparison

shopping. It is priced low, distributed

widely, and mass produced.
4. Type of consumer product where
purchases are less frequent, priced
higher than convenience good, and
fewer outlets for selective distribution.
5. Type of consumer product that is
exclusively distributed and there is
strong brand preferences and loyalty,
requires special purchase effort, little
brand comparisons, and low price
sensitivity.
6. Type of consumer product where there
is little product awareness and
knowledge, which is heavily advertised
and sold personally.
7. The positive differential effect that
knowing the brand name has on
consumer response to product or
service.
8. It addresses the question what is the
customer is really buying?
9. The second level of product where it
includes the name, parts, style,
features, packaging and other
attribute.
10.The third level of product and services,
located at the outermost layer, offers
additional consumer and benefits.
11.A product bought by individuals and
organizations for further processing or
for conducting business.
12.The characteristics of a product or
service that hear on its ability to
satisfy stated or implied customer
needs.
13.It means conformance to the
requirement.
14.It means zero defects.
15.Simply describes the appearance of
the product.
16.It is considered skin deep that goes to
the very heart of the product as it
contributes to its usefulness as well as
its looks.
17.It involves designing and producing
the container or wrapper as it primary
holds and protects the product.
18.Primary function is to identify the
product and describes who made it,
where is it made, when it was made,

its contents, how it is used, and how to

use it safely.
19.A group of products that are closely
related because they function in a
similar manner.

20.The set of similar products and items

that a particular seller offers for a sale.