product and service management

product planning

making decisions about what features should be used in selling a business’s products and services or ideas

product mix

all of the different products that a company makes or sells

product modification

an alteration in a company’s existing product

product life cycle

the stages that a product goes through during its life

product positioning

refers to the efforts a business makes to identify, place, and sell its products in the marketplace

product depth

refers to the number of items offered within each product line

category management

a process that involves managing product categories as individual business units

product item

specific model, brand, or size of a product within a product line

product width

refers to the number of different product lines a business manufactures or sells

during this stage the main purpose is to get the customers attention

introduction

during this stage the sales might level off or actually slow down

maturity

during this stage competition is aware of the product and is likely to offer new products in order to compete

growth