Chapter 10 Flashcards
New products purpose
sustain growth
increase revenue and profits
replace obsolete items
New product categories
New to the world
New product lines
Additional to product lines
Improvements of existing
reposition products
Lower priced products
Idea screening
elimination of ideas that are inconsistent w strategy
Development consists of
prototype
marketing strategy
manufacturing
Test marketing
limited introduction of a product
high costs
alternatives
commercialization
to market the product
increasing globalization
designing and making your product able to take part in other markets around the world
Diffusion vs innovation
innovation : new product by an adopter
diffusion : adoption of an innovation spreads
Categorises of adopters
innovators early adopters early majority late majority laggards
Communication aids diffusion
word of mouth
from marketer to adopter
