Product Development Flashcards
1
Q
Categories of New Product
A
-New to the market
-New category entry
-Product Line extension
-Revamped product (New packaging, reformulation)
2
Q
New Product Development Process
A
1- New Product Strategy Development
2- Idea Generation
3- Idea Screening
4- Business Analysis
5- Product Development
6- Test Marketing
7- Product Launch
3
Q
Consumer Adoption Process
A
-Awareness
-Interest
-Evaluation
-Trial
-Adoption
4
Q
Types for Adopters
A
-Innovators
-Early Adopters
-Early Majority
-Late Majority
-Laggards
5
Q
Product Life Cycle
A
1- New Product Development
2- Introduction
3- Growth
4- Maturity
5- Decline
