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Marketing mix: Product
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The two types of market research are:
primary & secondary
In the stages of product development a working example of the product is created, what is this called?
Prototype
What are the benefits of developing new products?
It helps the product stand out from competition, it helps the product to be developed
State the best example of brand loyalty is
when a consumer keeps buying products from the same producer
What is a benefit of branding?
It helps the product stand out from competition.
4 P's of Marketing (Marketing Mix)
product, price, place, promotion
State the correct order for the stages of the product life cycle.
Introduction, Growth, Maturity, Decline/Extention
What is a product life cycle?
shows the sales of a product over time
The Marketing Mix helps businesses to...
Meet the needs of their customers
What does USP stand for?
Unique Selling Point
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