Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
20 Cards in this Set
- Front
- Back
|
new product
|
product new to the world, the market, the producer, the seller or some combo of these
|
|
|
new product strat
|
links new product development process w objectives of the mktg dept, the business unit and the corporation
|
|
|
product development
|
strat that entails the creation of marketable new products; process of converting applications for new techs into marketable products
|
|
|
brainstorming
|
getting a group to think of unlimtied ways to vary a product or solve a problem
|
|
|
screening
|
1) first filter in product development process
2) eliminates ideas which are inconsistent with orgs new-product strat |
|
|
concept test
|
test to evaluate a new produt idea usually before prototype is created
|
|
|
business analysis
|
1) second stage of screening process
2) proliminary figures for demand, cost, sales, and profitability are calculated |
|
|
development
|
stage in product development in wish protoype is develped and mktg strat is outlined
|
|
|
simultaneous product development
|
team-oriented approach to new product development
|
|
|
test mktg
|
limited intro of a product and a mktg program to determine the reactions of potential customers in a mkt situation
|
|
|
simulated (laboratoty) mkt testing
|
presentation of adcertising and other promotional materials for severl products including a test product to members of the target mkt
|
|
|
commercialization
|
decision to mkt a product
|
|
|
innovation
|
a product perceiced as new by a potential adopter
|
|
|
diffusion
|
process by which the adoption of an innovation spreads
|
|
|
product life cycle
|
provides a way to trace the stages of a products acceptance from its intro (birth) to its decline (death)
|
|
|
product category
|
all brands that satisfy a particular type of need
|
|
|
introductory stage
|
full scale launch of new product into mktplace
|
|
|
growth stage
|
1) second stage of PLF
2) sales grow at increasing rate 3) many competitors enter mkt 4) large companies may start acquiring small pioneering firms 5) profits are healthy |
|
|
maturity stage
|
sales increase at a decreasing rate
|
|
|
decline stage
|
long run drop in sales
|
