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Ch 54: AEPA Business Education: Marketing and Managing a Product

About This Chapter

Hone your product management and marketing knowledge with the engaging video lessons in this chapter. These lessons are designed to help you conquer the marketing section of the AEPA Business Education test.

AEPA Business Education: Marketing and Managing a Product - Chapter Summary

Knowing how to market a specific product is more complex than most people think, encompassing target market analysis, placement techniques and retail roll-out. You'll explore all of these topics and more in our chapter on marketing and managing a product, including:

  • New product development and marketing
  • Types of new products
  • The life cycle of a product
  • Retail marketing v. traditional marketing
  • The product-adoption habits of different consumers
  • Marketing mixes applied to countries and cultures
  • Retail segments and target marketing

Our business teachers designed these marketing-centric lessons specifically for AEPA business education test-takers, and you can always ask them questions any time you need help. Our video lessons are only 5-10 minutes in length, and each one includes a brief quiz so you can make sure you've retained the essential points.

Objectives of the AEPA Business Education: Marketing and Managing a Product Chapter

The AEPA Business Education test is designed for Arizona teachers seeking subject-area certification in business education. The test consists of 150 multiple-choice questions, and you'll have up to three hours to answer the questions. Your score is delivered immediately following completion of the test - 220 is considered the minimum passing score.

Questions related to the topics in this chapter can be found within the marketing, e-commerce and entrepreneurship sub-area of the AEPA Business Education test, which makes up roughly 19% of the entire test. You may be asked questions on product life cycles, product development, market segmentation, the essential principles of product placement and more. The video lessons at Study.com are your one-stop test-prep tool. Let our instructors help you gain the skills to ace marketing-related questions on the AEPA Business Education test.

10 Lessons in Chapter 54: AEPA Business Education: Marketing and Managing a Product
How to Develop and Market New Consumer Products

1. How to Develop and Market New Consumer Products

In this lesson, you will learn the six stages of the new product development process that companies use when they develop new consumer products. You'll also learn why it is important for companies that develop new consumer products to use this process.

Types of New Products: New Product Lines, Product Improvements & More

2. Types of New Products: New Product Lines, Product Improvements & More

You will learn about the types of new product categories, such as new product lines or repositioned products, and the new product development process, from idea generation to commercialization.

How to Create a Marketing Mix for Individual Cultures & Countries

3. How to Create a Marketing Mix for Individual Cultures & Countries

In this lesson, you will learn how companies modify their domestic marketing mix to suit the unique needs and norms of foreign cultures and countries. Companies may find it necessary to modify their current product, their current promotional message, or both.

How a New Product is Adopted by Consumers

4. How a New Product is Adopted by Consumers

In this lesson, you will learn the five stages consumers go through to determine whether or not to adopt a product that is new to the marketplace. You will also learn why it is important for companies introducing new products to understand the adoption process their customers use.

Classes of Adopters: Innovators, Early, Late and Laggards

5. Classes of Adopters: Innovators, Early, Late and Laggards

In this lesson, you will learn how innovative products are adopted by consumers. You will learn the five classes of adopters and the role each plays in this process. You will also learn why it is important for marketers to understand this process in order to successfully introduce innovative products to the marketplace.

Product Life Cycles: Development, Design and Beyond

6. Product Life Cycles: Development, Design and Beyond

Have you ever considered that products, like humans, have a life cycle? You will learn about product life cycles and how they are designed and developed. See how a product goes from its introduction to being retired.

Retailing's Role in Marketing: Definition and Dimensions

7. Retailing's Role in Marketing: Definition and Dimensions

When you start a retail store, there are many things to consider, from the type of service you'll offer to the scale of the business. In this lesson, you will learn about retailing's role in marketing and the different forms retail stores can take.

Retail Segments, Target Markets and Marketing Strategies

8. Retail Segments, Target Markets and Marketing Strategies

In this lesson, you will learn how to identify four different retail segments and gain an understanding of how producers of goods and services use different types of retailers to reach the different target markets that buy their products.

Retail Marketing Mix vs. Traditional Marketing Mix

9. Retail Marketing Mix vs. Traditional Marketing Mix

In this lesson, find out how personnel and presentation round out the traditional four Ps of the marketing mix to create the retail marketing mix. Then, follow along as our farmer implements the six Ps into a new retail store.

Market Potential of a Product: Definition & Analysis Example

10. Market Potential of a Product: Definition & Analysis Example

An important step before moving forward with a product is determining its market potential. In this lesson, you'll learn about market potential, examine a method to analyze it and read through some examples. A short quiz follows.

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