Ch 10- Developing Successful Products
Chapter 10
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
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