Ch 10- Developing Successful Products
| Chapter 10 |
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| business markets |
companies and organizations that purchase products for the operation of a business or the completion of a business activity |
| consumer markets |
individuals or socially related groups who purchase products for personal consumption |
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| direct demand |
the quantity of a product or service needed to meet the needs of the consumer |
| licensed brand |
a well-known name or symbol established by one company and sold for use by another company to promote its products |
| new product |
something that is entirely new or changed in an important and noticeable way |
| product assortment |
the complete set of all products a business offers to its market |
| product line |
a group of similar products with slight variations in the marketing mix to satisfy different needs in a market |
| trademark |
the legal protection of the words or symbols for use by a company |