The product life cycle is an important concept in marketing. It describes the stages a product goes through from when it was first thought of until it finally is removed from the market. Not all products reach this final stage.
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What is Market Research?
Market research is the process of collecting valuable information to help you find out if there is a market for your proposed product or service.
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Types of communication
Written communication, Verbal communication, Electronic communication.
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What is product trial?
When a business begins to sell its product or services for a short time in a certain section of the market to see if there is a demand for the certain product or service.
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What is repeat purchase?
The buying of a product by a consumer of the same brand name previously bought on another occasion.
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What is the marketing mix?
The marketing mix deals with the way in which a business uses price, product, distribution and promotion to market and sell its product.
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What is an organisational structure?
The typically hierarchical arrangement of lines of authority, communications, rights and duties of an organization. Organizational structure determines how the roles, power and responsibilities are assigned, controlled, and coordinated.
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What is remuneration?
Reward for employment in the form of pay, salary, or wage, including allowances, benefits (such as company car, medical plan, pension plan), bonuses, cash incentives, and monetary value of the noncash incentives.
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What is marketing?
The action or business of promoting and selling products or services.
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How to finance growth?
LOOK AT TYPES OF FINANCE
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Other cards in this set
Card 2
Front
Market research is the process of collecting valuable information to help you find out if there is a market for your proposed product or service.
Back
What is Market Research?
Card 3
Front
Written communication, Verbal communication, Electronic communication.
Back
Card 4
Front
When a business begins to sell its product or services for a short time in a certain section of the market to see if there is a demand for the certain product or service.
Back
Card 5
Front
The buying of a product by a consumer of the same brand name previously bought on another occasion.
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