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Ch 4: MTTC Marketing: Product Management

About This Chapter

By walking you through the basics of products and how best to market them, these video lessons will prepare you to ace the Marketing Education test of the MTTC. After watching these lessons, test your knowledge with the included multiple-choice quizzes.

MTTC Marketing: Product Management - Chapter Summary

These lessons will teach you about product development by introducing you to key concepts and practices in the world of marketing. Examine instances of marketing and how they affected the management of products. This chapter will prepare you to:

  • Define a product and explain the differences between consumer products
  • List steps in the product development process
  • Explain how to develop and market new products
  • Differentiate between services and goods
  • Assess the impact of new products on different classes of adopters
  • Understand how quality assurance concepts affect the sale of products
  • Develop traditional and retail marketing mixes for different markets
  • Discuss the life cycle of a product
  • Distinguish non-profit marketing from for-profit marketing

In order to help make learning about product management simple and entertaining, our instructors have put together these short video lessons. Learn about marketing practices and then test your skills with our self-assessed tests.

Objectives of the Product Management Chapter

Prospective teachers in the state of Michigan must pass the Michigan Test for Teacher Certification (MTTC) if they wish to earn teacher certification. The Marketing Education subject test is divided into three sections, and the topics in this chapter can be found within the marketing function section. The marketing functions section makes up 40% of the 100 questions on the test. You may encounter questions on understanding product service planning within this section, which you can prepare for with the lessons in this chapter.

Each question on the Marketing Education test is multiple choice. The test will assess your understanding of product development and other marketing concepts that have been established as must-know for entry-level marketing teachers. You will have four-and-a-half hours to complete the paper-based test.

14 Lessons in Chapter 4: MTTC Marketing: Product Management
Test your knowledge with a 30-question chapter practice test
What is a Business Product: Definition for Marketers

1. What is a Business Product: Definition for Marketers

In this lesson, you'll find out the difference between a consumer product and a business product. You will also learn about the different business categories and seven types of business products.

Consumer Products: Convenience, Shopping, Specialty & Unsought Products

2. Consumer Products: Convenience, Shopping, Specialty & Unsought Products

In this lesson, you will learn the difference between business and consumer products. We will also discuss the different ways they can be classified, which include the areas of convenience, shopping, specialty and unsought.

Product Development and Business Growth: Process & Strategies

3. Product Development and Business Growth: Process & Strategies

Product development is an essential part of any company's growth strategy. It allows for growth in sales and market share. This development, though, is a finely tuned process that we will discuss in this lesson.

How to Develop and Market New Consumer Products

4. 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.

How Quality Assurance Concepts Benefit Product & Service Offerings

5. How Quality Assurance Concepts Benefit Product & Service Offerings

Quality assurance concepts can benefit both product offerings and customers. In this lesson, you'll learn more about how these concepts can benefit your business.

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

6. 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

7. 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

8. 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

9. 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

10. 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

11. 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 Marketing Mix vs. Traditional Marketing Mix

12. 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.

Services Marketing: The Difference Between Services and Goods

13. Services Marketing: The Difference Between Services and Goods

In this lesson, you'll learn the difference between a service and a good. Discover how services are marketed to a consumer using different techniques.

How Non-Profit Marketing Differs from For-Profit Marketing

14. How Non-Profit Marketing Differs from For-Profit Marketing

For-profit and non-profit companies both have to market their products. They use the same basic vehicles and methods, but they have different methods and focuses. This lesson will describe these two very different views of marketing.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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