About This Chapter
Product and Service Management - Chapter Summary
From new product packaging to test marketing, this chapter addresses details about how products are developed, tested and marketed. You can learn about product life cycles and the extension of product lines and brands. This chapter makes it easy and convenient to learn about this material through expert instruction, detailed examples and 24/7 accessibility from any device. You can also determine how much you have retained and whether you need further study by taking self-assessment quizzes in each lesson. After completing this chapter, you should be able to:
- List the six stages of new product development
- Discuss the packaging, labeling and marketing of new products
- Describe new product categories
- Create modified marketing mixes for foreign markets
- Define and provide examples of test marketing
- Describe the process by which consumers adopt new products
- Understand product life cycles and product line extension
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.
2. Packaging, Labeling & Marketing New Products
View this lesson to learn how companies can best package, label, and market a new product. You will see that more is involved than just putting the product in a box.
3. 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.
4. 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.
5. What Is Test Marketing? - Definition, Types & Examples
Companies often use test marketing before a new product or new advertising campaign is completely rolled out. In this lesson, you'll learn what test marketing is as well as the different types utilized.
6. 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.
7. 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.
8. Product Line Extension: Definition, Strategies & Example
This lesson will define product line and brand extensions. Different types of strategies will be illustrated with examples. These will show how line extension is distinguished from brand extension.
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Other chapters within the TECEP Introduction to Marketing: Study Guide & Test Prep course
- Overview of Marketing
- Marketing Planning & Strategy
- Market Research & Analysis
- Marketing Environment Basics
- Pricing Strategies in Marketing
- Consumer Behavior, Satisfaction & Loyalty
- Segmentation, Targeting, & Position in Marketing
- Marketing Ethics Basics
- Business Marketing Overview
- Global Business Marketing
- Marketing Channels & Distribution
- Supply Chains & Logistics in Marketing
- Direct Marketing Communications
- Integrated Marketing Communications Overview
- Marketing & Social Media
- Personal Selling Communication
- TECEP Introduction to Marketing Flashcards