Product

  • 101 product substitution — ➔ substitution * * * product substitution UK US noun ► [C] COMMERCE a product that can be used instead of a similar product: »If an item is out of stock, a product substitution is offered in its place. ► [U] a situation where a cheap product has… …

    Financial and business terms

  • 102 Product design — can be defined as the idea generation, concept development, testing and manufacturing or implementation of a product (physical object or service). Product Designers conceptualize and evaluate ideas, making them tangible through products in a more …

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  • 103 product life cycle management — ➔ management * * * product life cycle management UK US noun [U] (also PLM) MARKETING, COMMERCE ► decisions that are made about a product s appearance, price, advertising, etc. to suit each stage in the product life cycle: »Toyota is one of many… …

    Financial and business terms

  • 104 Product market — is a mechanism that allows people easily to buy and sell products. Services are often included in the scope of the term. Product market regulation is an economic term that describes restrictions in the market.Related terms are financial market… …

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  • 105 Product concept — is the understanding of the dynamics of the product in order to showcase the best qualities of the product. Marketers spend a lot of time and research in order to target their attended audience. Marketers will look into a product concept before… …

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  • 106 product family — ˈproduct ˌfamily noun [countable] MARKETING a group of similar products that are made by the same company: • Goods belonging to the same product family are all stored together. * * * product family UK US noun [C] (plural product families)… …

    Financial and business terms

  • 107 product innovation — ➔ innovation * * * product innovation UK US noun ► [U] PRODUCTION the process of designing new products or making improvements to existing ones: »As competition increases, so does the need for resources to invest in product innovation and clever… …

    Financial and business terms

  • 108 product manager — ➔ manager * * * product manager UK US noun [C] MARKETING, COMMERCE ► a person whose job is to plan and control the marketing of a particular product or service: »The product manager tells the team the goals for a new product and the plan for… …

    Financial and business terms

  • 109 product mix — ➔ mix * * * product mix UK US noun [S] MARKETING, COMMERCE ► the combination of products and services that a company sells: »The supermarket has a different product mix from its competitors to attract higher income shoppers. »There is scope for… …

    Financial and business terms

  • 110 product research — ➔ research * * * product research UK US noun [U] COMMERCE, MARKETING ► the process of deciding which new products might be successful, and the best way to develop and sell them: »Our product research is looking at what products will be possible… …

    Financial and business terms

  • 111 product return — ➔ return * * * product return UK US noun [C or U] COMMERCE ► a situation in which a buyer does not want a product, and returns it to the company to get their money back: »Product returns cost US companies more than $100 billion annually. »We will …

    Financial and business terms

  • 112 product concept — UK US noun MARKETING ► [C] an idea for a new product: »Once a great new product concept is born in the lab, make sure that the product is relevant to the customer target market. ► (also the product concept) [U] the belief that a good product will …

    Financial and business terms

  • 113 product life cycle — UK US noun [S] (also product cycle, product s life cycle, ABBREVIATION plc) MARKETING, COMMERCE ► the stages in a particular product s existence: introduction, growth or increasing sales, maturity (= slow or no increase in sales), and decline or… …

    Financial and business terms

  • 114 product relaunch — UK US noun [C] MARKETING, COMMERCE ► a change to a product or the way it is sold, in order to make it available as a new product to increase sales: »The company reacted to criticism of the vehicle with a product relaunch, changing the name of the …

    Financial and business terms

  • 115 Product literature — is a primary subset of business publishing specifically geared toward the selection, purchase and use of a business products.Typically this includes product promotionally literature, product datasheets, product operating manuals and product… …

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  • 116 Product Support Services — Product Support Services, more commonly referred to as PSS, is the Microsoft business unit with primary responsibility for responding to end user and partner requests for assistance with the company s products and services.PSS also gives feedback …

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  • 117 Product Manufacturing Information — Product and Manufacturing Information, or PMI, is used in 3D computer aided design (CAD) and Collaborative Product Development systems to convey information on the design of a product’s components for manufacturing. This includes data such as… …

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  • 118 Product support — is a service provided by many retailers of various products, primarily electronics, that provides the end user with a resource for information regarding the product, and help if the product should malfunction. Product Support can be found in most …

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  • 119 Product forecasting — is the science of predicting the degree of success a new product will enjoy in the marketplace. To do this, the forecasting model must take into account such things as product awareness, distribution, price, fulfilling unmeet needs and… …

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  • 120 Product catalogue management — refers to the support of product management in the management of product information in a structured and consistent way in the form of catalogues. This in order to create a cost effective means to help customers and channel partners understand… …

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