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;
21 Cards in this Set
- Front
- Back
|
new product
|
a product new to the world, the market the producer the seller or some combination of these
|
|
|
new product strategy
|
a plan that links the new product develpoment process with teh objectives of the marketing department the business unit and the corporation
|
|
|
product development
|
a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products
|
|
|
brainstorming
|
the process of getting a group to think of unlimited ways to vary a product solve a problem
|
|
|
screening
|
the first filter in the product developement process, which eliminates ideas that are inconsistent with the organizations new product strategy or are obviously inappropriate for some other reason
|
|
|
concept test
|
a test to evaluate a new product idea, usually before any prototype has been created
|
|
|
business analysis
|
the second stage of the screening process where preliminary figures fore demand, cost, sales, and profitability are calculated
|
|
|
development
|
the stage in the product development process in which a prototype is developed and a marketing strategy is outlined
|
|
|
simultaneous product development
|
a team oriented approach to new product development
|
|
|
test marketing
|
the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation
|
|
|
simulated market testing
|
the presentation of advertising and other promotion materials for several products, including a test product, to members of the products target market
|
|
|
commercialization
|
the decision to market a product
|
|
|
adopter
|
a consumer who was happy enough with his or her trial experience with a product to use it again
|
|
|
innovation
|
a product perceived as new by a potential adopter
|
|
|
diffusion
|
the process by which the adoption of an innovation spreads
|
|
|
product life cycle
|
a biological metaphor that traces the stages of a product's acceptance from its introduction to its decline
|
|
|
product category
|
all brands that satisfy a particular type of need
|
|
|
introductory stage
|
the first stage of the product life cycle in which the full scale launch of a new product into the marketplace occurs
|
|
|
growth stage
|
the second stage of teh product life cycle when sales typically grownat an increasing rate, many competitors enter the market, large companies may start acquiring small pioneering firms, and profits are healthy
|
|
|
maturity stage
|
the third stage of the product life cycle during which sales increase at a decreasing rate
|
|
|
decline stage
|
the fourth stage of the product life cycle characteristics by a long run drop in sales
|
