About This Chapter
Who's it for?
Anyone who needs help learning or mastering introductory business material will benefit from taking this course. There is no faster or easier way to learn introductory business. Among those who would benefit are:
- Students who have fallen behind in understanding branding or product development and retailing
- Students who struggle with learning disabilities or learning differences, including autism and ADHD
- Students who prefer multiple ways of learning business (visual or auditory)
- Students who have missed class time and need to catch up
- Students who need an efficient way to learn about product development and retailing
- Students who struggle to understand their teachers
- Students who attend schools without extra business learning resources
How it works:
- Find videos in our course that cover what you need to learn or review.
- Press play and watch the video lesson.
- Refer to the video transcripts to reinforce your learning.
- Test your understanding of each lesson with short quizzes.
- Verify you're ready by completing the product development and retailing chapter exam.
Why it works:
- Study Efficiently: Skip what you know, review what you don't.
- Retain What You Learn: Engaging animations and real-life examples make topics easy to grasp.
- Be Ready on Test Day: Use the product development and retailing chapter exam to be prepared.
- Get Extra Support: Ask our subject-matter experts any product development and retailing question. They're here to help!
- Study With Flexibility: Watch videos on any web-ready device.
Students will review:
This chapter helps students review the concepts in a product development and retailing unit of a standard introductory business course. Topics covered include:
- Branding and brand equity
- Developing and marketing new consumer products
- Product packaging
- Classes of adopters
- Product life cycles
1. 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.
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.
3. What is Product Packaging in Marketing? - Definition, Types & Importance
Most products have some form of packaging, even if it's just a price tag. In this lesson, you'll learn about the function of packaging, including how packaging is used in marketing. A short quiz follows the lesson.
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.
5. 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.
6. What is a Patent? - Definition & Overview
Patents are an important part of intellectual property rights. In this lesson, you'll learn what a patent is and some of the key concepts related to it. A short quiz follows the lesson.
7. What is a Prototype? - Definition, Function & Theory
In the product development process, one of the key steps is creating a sample of the product before it is manufactured. This lesson will explain what a prototype is and the benefits of using one in your business.
8. What Is a Quality Manual in ISO 9000? - Definition & Examples
This lesson centers on the International Organization for Standardization (ISO), quality assurance and the quality manuals by which organizations have to abide to be ISO-certified in their particular industries.
9. What is a Research Proposal? - Components & Examples
In this lesson, we will look at what it takes to write a research proposal. We'll look at questions to ask before beginning and the components that need to be included.
10. What is Graphic Design? - Definition & Explanation
Graphic design plays an intricate part in marketing techniques used by companies. In this lesson, we will discuss what graphic design is and how it is used for logos, brochures, and packaging.
11. What is a Wireframe? - Tools & Examples
This lesson looks at what a wireframe is and how to create one using familiar images. These will be the basis for the interaction between a user and a software program. Using these symbols, you work through developing a wireframe for a webpage.
12. How to Create a Product Prototype
In this lesson we will learn about creative ideas that develop into a finished product known as a prototype. We will specifically look at the step-by-step process one might take to make a product prototype.
13. Product Lifecycle Management: Definition, Process & Tools
This lesson will discuss the basics of product life cycle management. Most products that are developed go through some sort of life cycle management. Examples would be products such as cars, computers, heavy equipment, aircrafts, etc. Product life cycle management, or PLM, is seen in product that have a long develop time or long life span.
14. What is Product Management? - Definition & Tools
Welcome to a great overview of how a product successfully grows from a simple idea into an actual item that can be purchased in the market, and learn just what skill sets you'll need along the way.
15. Product Management: Methodology & Metrics
Welcome to product management methodology and metrics, where you will learn how a product makes it from the product idea phase to public distribution, as well as identifying what makes a successful product release.
16. Product Management: Process & Best Practices
Welcome to a comprehensive introduction to product management processes and best practices. Learn the best ways to bring a product to life and land it in the hands of customers.
17. Product vs. Project Management
Product and project management are often thought to mean the same thing; however, that is not quite the case. This lessons explains the difference between product and project management.
18. 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.
19. 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.
20. Branding and Brand Equity in Business Marketing
Brand and brand equity go hand-in-hand in the marketing arena. Here, we will discuss how a brand develops and how that leads to increased brand equity.
21. 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.
22. 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.
23. 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.
24. 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.
25. 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.
26. 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.
Earning College Credit
Did you know… We have over 95 college courses that prepare you to earn credit by exam that is accepted by over 2,000 colleges and universities. You can test out of the first two years of college and save thousands off your degree. Anyone can earn credit-by-exam regardless of age or education level.
To learn more, visit our Earning Credit Page
Transferring credit to the school of your choice
Not sure what college you want to attend yet? Study.com has thousands of articles about every imaginable degree, area of study and career path that can help you find the school that's right for you.
Other chapters within the Intro to Business: Help and Review course
- The Dynamic Business Environment: Help and Review
- Business Morality & Code of Conduct: Help and Review
- Economics and Business: Help and Review
- Business in Global Markets: Help and Review
- Forms of Business Ownership: Help and Review
- Entrepreneurship and Small Business: Help and Review
- Managing and Leading in Business: Help and Review
- Leadership Styles in Business: Help and Review
- Organizational Management: Help and Review
- Project Management Basics: Help and Review
- Business Production and Operations: Help and Review
- Workplace Productivity & Motivation: Help and Review
- Basics of Human Resources: Help and Review
- Managing the Employer-Worker Relationship: Help and Review
- Business Marketing Basics: Help and Review
- Product Distribution & Supply Chain Management: Help and Review
- Pricing Strategy in Marketing: Help and Review
- Product Promotion in Business: Help and Review
- MIS Basics in Business: Help and Review
- Implications of Information Technology: Help and Review
- Risk Management in Business: Help and Review
- Accounting Basics: Help and Review
- Financial Management in Business: Help and Review
- Securities Markets and Business: Help and Review
- Lean in Business
- Money and Financial Institutions: Help and Review
- Strategic Planning for Small Businesses
- Small Business Analysis Models
- Small Business Entrepreneurship
- Ethical Behavior & Social Responsibility in Small Business
- Product Pricing for Small Business