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Product Life Cycle Management
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Avg score: 81% • Most missed: “Add new higher end items”
Product Life Cycle Management
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25 Questions

1. Growth stage

2. Stretching - filling - contracting

3. Small often isolated department/facility that functions with minimum supervision

4. Products not branded & is sold at lowest price possible

5. Brands that product manufacturer owns

6. Add new lower end items

7. One firm sells another firm the right to use legally protected brand name for specific purpose & specific period of time

8. Add higher and lower end items

9. Fit to target market - product benefits - customer culture - legal requirements

10. Coordinate mix of product lines within more general product category & who considers new product lines based on client needs

11. Add new higher end items

12. Add new sizes and styles

13. Intro - growth - mature - decline

14. Agreement between 2 brands to work together to make new product

15. Creates a link with past self (e.g. vintage t-shirts)

16. If a firm used name & established over a period of time

17. Beliefs & associations consumer has about brand

18. Variety of products - targets many customer segments to boost sales potential

19. Different managers focus on specific customer groups rather than on products (note: helpful when you have variety of products)

20. Fewer product varieties (e.g. Rolls Royce)

21. Focus on new product development

22. Easy to say - spell - read - remember

23. Legal term for bran name/mark - or trade character

24. 1) consider other brands in same category of packaging 2) consider packaging material 3) consider environmental impact of package 4) shape? 5) what graphic info should it show?

25. Add new items to line

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