1. Chapter 30 and 31

2.  Overseeing the ______ and _____________ of new products  Benefits to us? New and improved products on the market More choices to pick from

3.  1. The c___ to d_____ the product  2. Will you have a m______ for the product?

4.  All of the different p_______ that a company makes or sells.  Example: Nike sells clothes, shoes, sports products

5.  Objectives of the business –  Carry a v______ of products that will make our business a p_____  I______ the business wants to project -  Trendsetting, fashion-conscious, expensive, low- price  M______ business is trying to reach –  Kids, teens, Generation X, Baby Boomers

6.  A group of closely r______ products manufactured and/or sold by a business  Examples: Frito Lay makes Ruffles, Doritos, Tostitos Cereals produced by Kellogg's: Frosted Flakes, Corn Pops

7.  Is a specific m_____, b_____, or s____ of a product within a product line

8.  Obsolescence (changing interests and technology)  Loss of appeal – consumer tastes change  Conflict with company objectives  Replace with new products – limited shelf space  Lack of profit  Conflict with other product lines – competing with own brands not good

9.  Product first introduced  Focus on promotion and production  Draw attention to the product  Least profitable stage of life cycle because of costs being so high to promote/make

10.  Increasing sales and profits  Most knows about and buys the product  Competition starts offering products to compete  Advertising focuses more on customer satisfaction

11.  Sales level off or s___ down  Product has h_______ level of competition  Most of target market owns product  Most of advertising is fighting off c__________  I phone 4 and 4S

12.  Sales f___  Profit may be s_____ than c____  May sell or license the product  D_______ the product

13.  P____ and q______ – economy line, mid- priced line, and luxury line based on how they want to be viewed  F_________ and b_______ – Rockport positioned as comfortable shoes (features/benefits)  Competition – How is my product better than theirs  Relation to other products in line – Crayola came out with a washable marker/crayon to go along with the rest of their product line

14.  Can be a n___, t___, d_____, s_____ that identifies a business or organization and its products  Examples are Coca Cola, McDonalds, Microsof  A b______ n____ is the word, group of words, letters or numbers representing a brand that can be spoken  Examples are: Mountain Dew, SnackWells, Honda Accord

15.  A brand m_____ is the part of the brand that is a symbol or mark – known as a logo  Examples:  T____ n_____ – identifies the company or division of a particular corporation  Examples are: Dell, Kellogg’s and Xerox

16.  Trade character is a brand mark with a human f____ or c____________

17. A trademark is a brand n___, brand m___, trade name, trade character, or a combination that is given legal p__________ by the federal government

18.  Two main purposes: for p__________ and p__________  P_________ and s_______ the product – make packages attractive, colorful and artistic

19.  Ease of u__ – consider the way the consumer uses the product  Providing i___________: Information about its contents, calories, guarantees, nutritional value and potential hazards

20.  Products come in p________ containers instead of glass now  Drugs and food items are in t______ resistant containers with s______ lids and blisterpacks

21.  Prevent t_________ while on display  Use bubble wrap/packing paper to keep product from b__________  E______________ packaging – packaging that is reusable, recyclable, safer, and less wasteful

22.  Also known as p_________ brands – owned by manufacturers  Generate the majority of s____  Identify a given p______  Indicate a standard q_____ and p_____  Appeal to customers who want consistent quality, dependable performance, and status Examples: Kraft, General Electric, Heinz, Keebler

23.  B_____ name  L___  I__________  D__________  Special pr____tional m________  W______  E_________n dates

24.  Also known as store or p_______ brands  Owned by w________ and retailers  Appeal to customers who want q_____ and performance at a lower price  Can generate a h_____r profit margin  Lead to customer l______ Examples: Sears Kenmore and Craftsman brands Kroger brand of products Great Value – Wal-Mart

25.  Does n__ carry a c________ or brand name  Packaging only has a d_________ of the product  Often priced 30-50% l______ than other manufacturer brands  Priced 10-15% b_____ private distributor brands  Not heavily a_________ or promoted

26.  Name and address of m__________ has to be on the l_____  Q_________ of the contents must be on label  Product w_____ has to be listed in traditional American weights and metric weights  Some countries require that labeling is b_________

27.  State amount of c________  Percentage of daily intake of calories  Fat, carbohydrates, sodium, etc. Contents  Health w________: Such as women who are pregnant should not drink alcoholic beverages due to increase risk of birth defects

28.  C____ labeling rules: information about the care of garments related to washing, drying, and ironing.  En_______ information about recyclable contents  O_____ safe information

29.  B_______ B________ B_______– Help customers to work with businesses to resolve complaints (you can call them to file a complaint) Better Business Bureau of Louisville  C_________ P_______ S_______ C_______ – work with businesses on unsafe products in the marketplace (do recalls on products)  CPSC Home Page | cpsc.gov CPSC Home Page | cpsc.gov  Federal Trade Commission –  Prevent unfair pricing practices  Investigations of false advertising

30.  W________– is a promise or guarantee, given to a customer that a product will meet certain standards (given a time period)  6 month warranty on IPhone  G__________ – Used in promotional phrases such as “money back guaranteed”, “satisfaction guaranteed”