BUS 343 Study Guide - Iso 14000, Iso 9000, Six Sigma

• School: Simon Fraser University
• Department: Business Administration
• Course: BUS 343
• Professor: Zaheer Jiwani

Document Summary

Product planning: use product objectives to decide on a product strategy. Product management: the systematic and usually team-based approach to coordinating all aspects of a product"s marketing initiative including all elements of the marketing mix. Product line: a firm"s total product offering designed to satisfy a single need to desire of target customers. Product line length: determined by the number of separate items within the same category. Cannibalization: the loss of sales of an existing brand when a new item in a product line or product family is introduced. Product mix: the total set of all products a firm offers for sale. Product mix width: the number of different product lines the firm produces. Quality as a product objective: the science of tqm. Product quality: the overall ability of the product to satisfy customers" expectations. Total quality management (tqm): a management philosophy that focuses on satisfying customers through empowering employees to be an active part of continuous quality improvement.