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Chapter 10
Develop a New Product
7
Marketing
10th Grade
01/18/2013

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Term
Brand
Definition
A name, symbol, word, or design that identifies a product, service, or company.
Term
Derived Demand
Definition
The quantity of a product needed by a business to operate at a level that will meet the demand of its customers.
Term
Product
Definition
Anything offered to a market by a business to satisfy needs.
Term
Consumer Market
Definition
Individuals or groups who purcchase a product for personal consumption.
Term
Licensed Brand
Definition
A well-known name or symbol established by one company and sold for use by another company to promote its products.
Term
Product Assortment
Definition
The complete set of all products a business offers its market.
Term
Business Market
Definition
Companies and organizations that purchase products for the operation of a business for the completion of business activity.
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