About This Chapter
Products, Services & Brands - Chapter Summary and Learning Objectives
The video lessons in this chapter explain the development and marketing processes for new products. You'll learn about brand development, marketing strategies, and the life cycle of a product. Quizzes after each lesson help you gauge your mastery of the concepts, and our instructors are available to offer additional help if you have any questions. You'll learn:
- The relationship between product development and growth
- Different types of consumer products
- How to market to specific audiences
- What encourages a consumer to make a purchase
- How to develop a new product
|What is a Product: Definition for Marketers||Discuss the different types of products.|
|Consumer Products: Convenience, Shopping, Specialty & Unsought Products||Compare and contrast different sorts of consumer products.|
|Product Development and Business Growth: Process & Strategies||Learn how product development can lead to business growth.|
|Branding and Brand Equity in Business Marketing||Consider the importance of branding and brand equity in marketing.|
|Services Marketing: The Difference Between Services and Goods||Compare and contrast between services and goods.|
|Packaging, Labeling & Marketing New Products||Explore the process of packaging and labeling design and the marketing of new products.|
|How to Develop and Market New Consumer Products||Discover how to create a marketing strategy for a new product.|
|Types of New Products: New Product Lines, Product Improvements & More||Compares new products and product lines, additions and improvements.|
|How to Create a Marketing Mix for Individual Cultures & Countries||Learn what factors to consider when marketing to a specific cultural or national audience.|
|How a New Product is Adopted by Consumers||Explore the process by which consumers adopt new products.|
|Classes of Adopters: Innovators, Early, Late and Laggards||Compare innovators, early adopters, late adopters and laggards.|
|Product Life Cycles: Development, Design and Beyond||Consider the life cycle of a product.|
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.
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.
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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.
9. 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.
10. 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.
11. 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.
12. 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.
13. Homogeneous Products: Definition & Overview
This lesson will define homogeneous products and provide several examples. We will also explore the use of the term in different business-related disciplines.
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Other chapters within the UExcel Principles of Marketing: Study Guide & Test Prep course
- Introduction to Marketing
- Marketing Environment Factors
- The Marketing Process
- Marketing Information & Research
- Consumer Buyer Behavior
- Business Buying Behavior
- Marketing Strategy
- Distribution & Logistics
- Promotion, Advertising & Public Relations
- Direct & Online Marketing
- Selling & Pricing Strategies
- Global Marketing Strategies
- Social Responsibility & Marketing Ethics
- UExcel Principles of Marketing Flashcards