Chapter 12 Flashcards
1
Q
Reasons for New Product Success or failure
A
Company, customers, competitors or environment
2
Q
Three major activities in new product delepoment
A
- IDENTIFY product opportunities
- DEFINE product opportunity
- DEVELOP the product opportunity
3
Q
Ideas can be generated by…
A
Internal, External, Customers, Distributors
4
Q
Product defnition has 3 objectives
A
- Define the value proposition (Test product Concept)
- Identify the target market(s) (Create marketing strategy)
- Delineate the product’s characteristics (Conduct business case analysis.)
5
Q
New to a company?
A
New to the world, Repositioning existing products, Cost reductions
6
Q
New to a customer?
A
“Is it new to me?”
7
Q
Identifying product opportunities includes…
A
Screening and evaluating ideas
8
Q
Developing the product involves…
A
- Product Testing
- Test the market
- Producting launch
9
Q
Innovation diffusion process
A
How long it takes a product to move from first purchase to last purchase.
10
Q
Consumer Product Adoption Process
A
- Awareness
- Interest
- Evaluation
- Trial
- Adoptioin
11
Q
Diffusion demographics
A
- Innovators
- Early adopters
- Early majority
- Late majority
- Laggards
