The document discusses key concepts related to developing successful products, including defining products, product lines, product assortments, trademarks, licensed brands, consumer markets, direct demand, derived demand, and business markets. It also discusses developing new products and the importance of understanding consumer needs during product development through marketing research and market testing.

1. Developing Successful Products Chapter 10

2. Vocabulary PRODUCT PRODUCT Anything tangible offered to market by a business to satisfy needs.

3. Vocabulary PRODUCT LINE PRODUCT LINE A group of similar products with slight variations in the product mix to satisfy needs in a market

4. Vocabulary PRODUCT ASSORTMENT PRODUCT ASSORTMENT The complete set of all products a business offers to its market.

5. Vocabulary TRADEMARK TRADEMARK The legal protection of the words or symbols for use by a company.

6. Vocabulary LICENSED BRAND LICENSED BRAND A well-known name or symbol established by one company and sold for use by another company to promote its products.

7. Vocabulary CONSUMER MARKETS CONSUMER MARKETS Individuals or socially related groups who purchase products for personal consumption.

8. Vocabulary DIRECT DEMAND DIRECT DEMAND The quantity of a product or service needed to meet the needs of the consumer.

9. Vocabulary DERIVED DEMAND DIRIVED DEMAND The quantity of a product or serviced needed by a business in order to operate at a level that will meet the demand of its customers.

10. Vocabulary BUSINESS MARKETS BUSINESS MARKETS Companies or organizations that purchase products for the operation of a business or the completion of a business activity.

11. Vocabulary NEW PRODUCT NEW PRODUCT An entirely new product OR a product changed in an important and noticeable way.