Marketing Chapter Nine

• Describes the stages a really new product idea goes through from begining to end.
• 1. Market Introduction
• 2. Market Growth
• 3. Market Maturity
• 4. Sales Decline

Sales are low as a new idea is first introducedto a market.

Industry sales grow fast- but industry profits rise and then start falling.

Industry sales level off and competition gets tougher.

New products replace the old.

One is that is new in any way for the company concerned.

The federal govrnment agency policies antimorphology laws.

Set up the Consumer Product Safety Commision to encourage safety in product design and better quality control.

refers to the legal obligation of sellers to pay damages to individe ls who are injured by detectiveor unsafe products.

Manage specific products- often taking over the jobs formerly handled by an advertising manager.

The philosophy that everyone in the organization is concerned about quality, throughout all of the firm's activities, to better serve customer needs.

A commitment to constantly make things better one step at a time.

A graph that shows the number of times a problem cause occurs, with problem causes ordered from most frequent to least frequent.

A visual aid that helps organize cause-and-effect relationships for "things gone wrong".

Means giving employees the authority to correct a problem without first checking with management.

Picking a basis of comparison for evaluating how well a job is being done.