product development Flashcards

1
Q

innovation bell curve

A

innovators -> early adopters -> early majority -> late majority -> laggards

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2
Q

factors affecting adoption rate

A

Relative advantage Observability Trialability Compatibility Complexity

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3
Q

product life cycle

A

introduction -> growth -> maturity -> decline

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4
Q

introduction stage

A

high cost, negative profits, little competition, Promotion focuses on raising awareness and providing
information

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5
Q

growth stage

A

healthy profits, lower prices, some competition

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6
Q

maturity stage

A

sales increase at a decreasing rate; saturated markets; prices and profits fall

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7
Q

decline stage

A

products may be eliminated or just have their marketing costs eliminated

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