The Product Development Policy (Grade 11 NSC Matric Business Studies): Flashcards
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Product policy
Product policy
Foundation of marketing strategy; roadmap for product creation
Industrial goods
Industrial goods
Products designed for use in manufacturing processes
Convenience goods
Convenience goods
Everyday items bought without much thought; low-priced
Shopping goods
Shopping goods
Products requiring consideration; customers compare options
Speciality goods
Speciality goods
Products with specific brand names; brand loyalty is key
Unsought goods
Unsought goods
Products not thought about until a specific need arises
First step of product design
First step of product design
Generate a new idea by identifying unmet customer needs
Commercialisation stage
Commercialisation stage
Official product launch with full marketing and advertising
Trademark
Trademark
Unique name, logo, or symbol distinguishing products from rivals
Main purposes of packaging
Main purposes of packaging
Protection from damage and marketing tool to attract customers