-
a product new to the world, the market, the producer, the seller, or some combination of these
New Product
-
a plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation
New-Product Strategy
-
a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products.
Product Development
-
the process of getting a group to think of unlimited ways to vay a product or solve a problem
Brainstorming
-
the first filter in the product development process, which eliminates ideas that are inconsistent with the organizations new-productt strategy or are obviously inapporporiate for some other reason
Screening
-
a test to evaluate a new-product idea, usually before any prototype has been created
Concept Test
-
the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated.
Business Analysis
-
the stage in the product development process in which a prototype is developed and a marketing strategy is outlined
Development
-
a team-oriented approach to new-product development
Simultaneous Product Development
-
the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation
Test Marketing
-
the presentation of advertising and other promotional materials for several products, including a test product, to members of the products target market
Simulated (Laboratory) Market Testing
-
the decision to market a product
Commercialization
-
a product perceived as new by a potential adopter
Innovation
-
the process by which the adoption of an innovation spreads
Diffusion
-
a concept that produces a way to trace the stages of a products acceptance, from its introduction (birth) to its decline (death)
Product Life Cycle (PLC)
-
all brands that satisfy a particular type of need
Product Category
-
the full-scale launch of new product into the marketplace
Introductory Stage
-
the second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start acquiring small pioneering forms, and profits are healthy
Growth Stage
-
a period during which sales increase at a decreasing rate
Maturity Stage
-
a long-run drop in sales
Decline Stage
|
|
