Lecture 2.21 Flashcards
1
Q
You make the most money in the _____ majority
A
early
2
Q
why are new products created?
A
to deepen customer relationships
3
Q
Relative advantage:
A
you don’t care if its the best product on the market, you care that it’s better than the next closest thing
4
Q
New product development process map
A
Idea Generation Concept Testing Product Development Market Testing Product Launch Evaluation of results (ICPMPE)
5
Q
Product Deveelopment
A
- Prototype
- Alpha testing
- Beta testing
6
Q
Alpha testing
A
all internal
7
Q
Beta testing
A
in the real world
8
Q
New product marketing mix
A
promotion, price, place
