Marketing 201 chapter 9 questions and
answers
product management - ANSWER the systematic and usually team-based approach to
coordinating all aspects of a product's strategy development and execution
product line - ANSWER a firm's product offering designed to satisfy a single need or desire of
target customers
product line length - ANSWER determined by the number of separate items within the same
category
cannibalization - ANSWER the loss of sales of an existing brand when a new item in a product
line or product family is introduced
product mix - ANSWER the total set of all products a firm offers for sale
product mix width - ANSWER the number of different product lines the firm produces
product quality - ANSWER the overall ability of the product to satisfy customer expectations
product life cycle (PLC) - ANSWER a concept that explains how products go through four distinct
stages from birth to death: introduction, growth, maturity, and decline
introduction stage - ANSWER the first stage of the product life cycle, in which slow growth
follows the introduction of a new product in the marketplace
growth stage - ANSWER the second stage in the product life cycle, during which consumers
accept the product and sales rapidly increase
answers
product management - ANSWER the systematic and usually team-based approach to
coordinating all aspects of a product's strategy development and execution
product line - ANSWER a firm's product offering designed to satisfy a single need or desire of
target customers
product line length - ANSWER determined by the number of separate items within the same
category
cannibalization - ANSWER the loss of sales of an existing brand when a new item in a product
line or product family is introduced
product mix - ANSWER the total set of all products a firm offers for sale
product mix width - ANSWER the number of different product lines the firm produces
product quality - ANSWER the overall ability of the product to satisfy customer expectations
product life cycle (PLC) - ANSWER a concept that explains how products go through four distinct
stages from birth to death: introduction, growth, maturity, and decline
introduction stage - ANSWER the first stage of the product life cycle, in which slow growth
follows the introduction of a new product in the marketplace
growth stage - ANSWER the second stage in the product life cycle, during which consumers
accept the product and sales rapidly increase
