Week 6-7 Flashcards
1
Q
2 NEW PRODUCT DEVELOPMENT STRATEGIES
A
- Acquisitions
- Own new product
2
Q
Buying a whole company to produce another companies product
A
Acquisition
3
Q
Firm’s own new product development efforts
A
Own new product
4
Q
4 forms of own new product
A
- Original Products
- Product Improvements
- Product Modification
4 New Brands
5
Q
Five Forms of NPD
A
- New-to-the-world Products
- New Category Entries
- Addition to Product Lines
- Product Improvements
- Product Positioning
6
Q
NPD Process
A
- Idea Generation
- Idea Screening
- Concept Development and Testing
- Marketing Strategy Development
- Business Analysis
- Product Development
- TestMarketing
- Commercialization
- Review of Market Performance
7
Q
A systematic search for new product ideas
A
Idea generation
8
Q
Two source of new ideas
A
Internal idea sources
External idea sources
9
Q
Filtering ideas
A
Idea screening
10
Q
Attractive ideas must be developed into product concept
A
Concept development
11
Q
Detailed version of a new product idea
A
Product concept
12
Q
Idea for possible product
A
Product idea
13
Q
The way consumer perceived annactual or potential product
A
Product image
14
Q
Testing the concept
A
Concept testing
