2968860
Description
Flashcards by Molly Petherick, updated more than 1 year ago
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Created by Molly Petherick
over 9 years ago
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| Question | Answer |
| What are the stages of the product lifestyle? | -Introduction -Growth -Maturity -Decline -Decision Point |
| What is a Specialty Channel? | -vending machines -telemarketing -catalog sales - e-commerce -door to door sales (any indirect channel that doesn't involve a retail store) |
| Invention vs. Innovation | Invention = Creation of some item/concept/thing that has never been done before Innovation = upgrade, altering a product or invention to become better it more efficient |
| What is an Indirect Channel | -people who own the product before selling it.... eg, wholesales, importers, retailers |
| What is a Direct channel of Distribution? | Selling directly to consumer -farmers -bakers Produce the item, then sell it immediatly |
| What is the difference between sales and distribution? | Sales = transferring the ownership of a product to another Distribution = moving the product to the consumer |
| What is a Niche? | Groups of people who have different fads than others |
| What are the differences between Fads, Niches, and Seasonal non-traditional product life cycles? | Seasonal cycles are fads only during certain times of the year. Fads are popular trends for very short periods of time, and niches are specialty fads thatbhave short growth stages but long maturity stage, eg Yoga or Food |
| Name 2 conditions that create demand, and 2 conditions that create Supply | Creates Demand = |
| Name 2 conditions that create demand, and 2 conditions that create Supply | Creates Demand = |
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