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41Product development — Product development is the process of producing product from concept to creation. While the term product development refers to the procedure that retailers adhere to in creating product or private label merchandise, the process is somewhat the …
42product liability — ➔ liability * * * product liability UK US noun [U] LAW ► the area of law that deals with a company s responsibility when a customer is injured or harmed by a product: a product liability case/claim/suit »Product liability suits have dramatically… …
43product placement — ˈproduct ˌplacement This used to be nested under placement , but it doesn t fit there so I have made it a HWD. noun [countable, uncountable] MARKETING when the maker of a product arranges for it to appear in a film or television programme as a… …
44product 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… …
45Product 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 …
46product 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… …
47Product 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… …
48Product 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… …
49product 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)… …
50product 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… …
