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| Question | Answer |
| stages of product design | producing a design specification suggesting alternative solutions selecting a particular solution testing product modifying product launching product |
| what might businesses use to speed up designs and improve qualities? | special CAD(computer aided design) |
| Branding is used to | differentiate product create customer loyalty help recognition develop image raise prices when brand becomes famous |
| factors influencing packaging | protection environment cost-effective information(labels/ingredients) design convenience(easy to open) |
| Stages of product life cycle | Development Introduction Growth Maturity and Saturation Decline |
| Examples of Extension Strategies | finding the new markets for the product finding new uses for product change appearance encourage frequent use of product |
| boston matrix | a 2x2 matrix describing products according to the market share they enjoy and whether the market has any potential for growth helps analyze products |
| stars | valuable products: ↑market share ↑ potential for growth |
| cash cows | mature products: ↑market share steady flow of income unlikely to grow |
| problem child | low market share growing market |
| dogs | end of cycle low market share not growing replaced |
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