Contemporary Marketing Ch. 12

4. First stage of the product lifecycle, in which a firm works to stimulate sales of a new product.
5. The point at which the customer and service provider interact.
7. Final stage of the product lifecycle, in which innovations or shifts in consumer preferences bring about a steady decline in industry sales.
8. An assortment of product lines and individual product offerings.
9. Second stage of the product lifecycle that begins when a firm starts to realize substantial profits from its investment.
11. People who are first to make trial purchases.
14. The process by which new products are accepted into the marketplace.
15. Focuses on developing entirely new products for new markets.
16. The number of variations in each product line.
19. Seeks to increase sales of existing products in existing markets.
20. The perceived level of service a customer receives.

1. Concentrates on finding new markets for existing products.
2. The introduction of new products into established markets.
3. A group of related products sold under the same brand.
6. A method of measuring quality by comparing performance against industry standards.
10. A series of stages from first learning about the new product to trying it and deciding whether to purchase.
12. The number of different product lines a firm offers.
13. Third stage of product lifecycle, in which industry sales reach a plateau as the backlog of potential customers dwindles.
17. People who are quick to purchase the latest product once it is somewhat established.
18. The progression of a product through four basic stages: introduction, growth, maturity, and decline.