Term
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Definition
| The stages a new product goes through in the marketplace: introduction, growth, maturity, and decline. |
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Term
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Definition
| stage of product life cycle occurs when a product is introduced to its intended target market. |
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Term
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Definition
| Initial purchase of a product by a consumer |
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Definition
| desire for the product class rather than for a specific brand. |
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Definition
| Preference for a specific brand |
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Term
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Definition
| to discourage competitive pricing, company cany lower price, known as. |
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Definition
| stage of the product life cycle characterized by rapid increases in sales. |
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Term
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Definition
| people who tried the product, were satisfied, and bought again. |
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Term
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Definition
| stage characterized by slowing of total industry sales or product class revenue. |
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Term
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Definition
| stage occurs when sales drop. |
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Term
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Definition
| dropping the product from the companys product line, most drastic strategy. |
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Definition
| Company retains the product but reduces marketing costs. |
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Term
1. Length
2. Shape of sales curve
3. Rate at which consumers adopt products. |
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Definition
| Three Aspects of the Product Life Cycle |
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