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    Product Product Presentation Transcript

    • Developing Successful Products
      Chapter 10
    • Vocabulary
      PRODUCT
      PRODUCT
      Anything tangible offered to market by a business to satisfy needs.
    • Vocabulary
      PRODUCT LINE
      PRODUCT LINE
      A group of similar products with slight variations in the product mix to satisfy needs in a market
    • Vocabulary
      PRODUCT ASSORTMENT
      PRODUCT ASSORTMENT
      The complete set of all products a business offers to its market.
    • Vocabulary
      TRADEMARK
      TRADEMARK
      The legal protection of the words or symbols for use by a company.
    • Vocabulary
      LICENSED BRAND
      LICENSED BRAND
      A well-known name or symbol established by one company and sold for use by another company to promote its products.
    • Vocabulary
      CONSUMER MARKETS
      CONSUMER MARKETS
      Individuals or socially related groups who purchase products for personal consumption.
    • Vocabulary
      DIRECT DEMAND
      DIRECT DEMAND
      The quantity of a product or service needed to meet the needs of the consumer.
    • Vocabulary
      DERIVED DEMAND
      DIRIVED DEMAND
      The quantity of a product or serviced needed by a business in order to operate at a level that will meet the demand of its customers.
    • Vocabulary
      BUSINESS MARKETS
      BUSINESS MARKETS
      Companies or organizations that purchase products for the operation of a business or the completion of a business activity.
    • Vocabulary
      NEW PRODUCT
      NEW PRODUCT
      An entirely new product
      OR
      a product changed in an important and noticeable way.
    • More Than Meets the Eye
      Section 10-1
      • More than a Physical Product
      Durable, attractive, safe, useful, meet the needs of the consumer.
      • What do you look for in a restaurant?
    • More Than Meets the Eye
      Section 10-1
      • Consumers Knows Best
      Let consumers define the types of needs a businesses product can satisfy.
      • Can you think of a business that tries to sell you a product but makes mistakes in trying to match their products with your (teenage) needs?
    • Developing a Product
      Section 10-1
      • The Role of Marketing
      Use consumers needs as the primary focus during the planning, production, distribution, and promotion of a product.
      • Why do you think new product development is so important in the fashion industry?
    • Developing a Product
      Section 10-1
      • Marketing Activities
      Gather information
      Design strategies
      Conduct market tests
      • How can marketers use market research to develop a product?