It is a social and managerial process by which individuals and Estimates the percent of sales based on a given market size.

groups obtain what they need and want through creating and
exchanging products and value with others.
Refers to set of actual and potential buyers of a product who
have a common need or want that can be satisfied through
exchange.
Too much focus on the product to the point of losing sight of
underlying customer needs.
Focuses on planning and managing the product business
model over its lifecycle.
We use this technique to assess potential success of a new
product or service, which helps clients make smarter choices
during uncertainty.
 Is a diagrammatic technique used by asset marketers that
attempts to visually display the perceptions of customers or
potential customers. The positioning of a brand is influenced by
customer perceptions rather than by those of businesses.
Analysis is a statistical method used to describe variability
among observed, correlated variables in terms of a potentially
lower number of unobserved variables. 

The fifth stage in New Product Development Process is... The last step in New Product Development process is... 

Is a graphic presentation of a product’s sales history from its
birth, or market beginning, to its death, or withdrawal from the
market.
Means improving an already existing product. This can be
more profitable, less risky and less costly than developing a
completely new product.
Is a group of products that are fairly closely related. It is a
broad group of products, intended for essentially similar uses
and having similar physical characteristics.
Is an organizational lifecycle function within a company dealing
with the planning, forecasting, and production, or marketing of
a product or products at all stages of the Product Life cycle.
Bought by consumers without planning or search effort.
When there is a want, there is always a demand.
In the decline stage, most competitors have withdrawn from
the market.
Product sample Is an early sample, model, or release of a
product built to test a concept or process. It is a term used in a
variety of contexts, including semantics, design, electronics,
and software programming.
The size of a market is measured by the number of people who
exhibit they want, have the resources to engage in an
exchange, and who are willing to offer these resources in
exchange for what they need.
Intangible products are known as goods.

Consumer goods that are quickly consumed, worn-out or out

dated.

Innovations provide something new to the world that we live in

by uprooting industry conventions.

In the maturity stage, sales increase at an increasing rate.

We can live without needs but we cannot survive without

wants.

Short term good relationship is equal to profitable transactions.

Product alteration is less costly than developing a completely

new product.

Product alteration is less costly than developing a completely

new product.

Is the image the product projects in the minds of consumers

compared with other products marketed by the same company.

Relationship marketing treats each transaction with much

value and appreciation.

Is the period during which the product eventually and

increasingly gains acceptance among consumers, the industry,
and the wider general public. During this stage, the product or
the innovation becomes accepted in the market, and as a
result sales and revenues start to increase.

 Sales technique that involves organic or word-of-mouth

information about a product or service to spread at an ever-
increasing rate. The internet and the advent of social media
have greatly increased the number of viral messages in the
form of shares, likes, and forwards.