5. Product

1. product life cycle

2. dynamic product pricing

price skimming & penetration pricing

3.  new product types

4. line extension do not seem to make people buy more

(same brand name, same category. eg: different flavor)

benefit: segmentation, maintain shelf space, more variety, less risk

costs: confusion, fragmentation, competition for self-space, higher unit cost

5.  opportunity identification: research customers needs and wants

6.  new product purchase process:

7. summary: opportunity---design---testing---introduction---life cycle management

8. pre-test marketing can help in predicting success