Q3 Flashcards
1
Q
Crowd-Sourcing
A
Inviting communities or people at large to new-product innovation process
2
Q
Eight steps
A
Idea Generation Idea Screening Concept Development Marketing Strategy Business Analysis Product Development Test Marketing Commercialisation
3
Q
Idea Generation
A
1Where the ideas first come up; crowd-sourcing is the baby
4
Q
Idea Screening
A
2Take off the bad ideas
5
Q
Concept
A
3Testing new products with a group of target consumers; see if the product has strong customer appeal
6
Q
Marketing Strategy
A
4Design a marketing strategy based on product concept
7
Q
Business Analysis
A
Looking at how much this thing will cost
8
Q
Test Analysis
A
Beta-testing, pushing it only in selected stores
9
Q
Commercialisation
A
Final step
10
Q
Product Development
A
Making the product physical
