260 Chapter 10 Product, Price, and Place Copyright Goodheart-Willcox Co., Inc. Section 10.1 Check Your Understanding 1. What is the product mix? 2. Explain the importance of product management. How does it contribute to the success of a business? 3. Identify extended product features that may become part of the product mix strategy. How do extended product features meet customer needs? 4. List three product-positioning strategies. 5. List the four stages of the product cycle. Build Your Vocabulary As you progress through this text, develop a personal glossary of key terms. This will help you build your vocabulary and prepare you for a career. Write a definition for each of the following terms and add them to your personal glossary. product mix product line features warranty guarantee packaging product planning product positioning brand branding logo tagline prototype product life cycle Review