Developing New Products
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| show | Regardless of where on the continuum a new product lies, firms have to Innovate. Changing customer needs, Market Saturation, Managing Risk through Diversity, Fashion Cycles, and Improving Business Relationships.
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| Innovation | show 🗑
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| Diffusion of Innovation | show 🗑
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| Pioneers (Breakthroughs) | show 🗑
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| First Movers | show 🗑
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| Innovators | show 🗑
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| Early Adopters | show 🗑
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| Early Majority | show 🗑
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| Late Majority | show 🗑
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| Laggards | show 🗑
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| show | Innovators, Early Adopters, Early Majority, Late Majority, and Laggards.
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| What factors enhance the diffusion of a good or service? | show 🗑
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| How firms develop new products | show 🗑
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| Reverse Engineering | show 🗑
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| Lead Users | show 🗑
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| Concepts | show 🗑
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| Concept Testing | show 🗑
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| What are the steps in new product development process? | show 🗑
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| Product Development (Product Design) | show 🗑
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| show | The first physical form or service description of a new product still in rough or tentative form that has the same properties as a new product but is produced through different manufacturing processes, sometime crafted individually.
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| Alpha Testing | show 🗑
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| show | Having potential consumers examine a prototype in a real-use setting to determine its functionality, performance, potential problems, and other issues specific to its use.
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| Premarket Test | show 🗑
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| show | Introduces a new product or service to a limited geographical area (usually a few cities) prior to a national launch.
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| show | Advertising to wholesalers or retailers to get them to purchase new products, often thru special pricing incentives.
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| Introductory Price Promotions | show 🗑
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| Trade Show | show 🗑
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| show | The price that manufacturers suggest retailers use to sell their merchandise.
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| Slotting Allowance | show 🗑
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| show | Defines the stages that new products move through as they enter, get established in, and ultimately leave the marketplace and thereby offers marketers a starting point for their strategy planning.
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| Introduction Stage | show 🗑
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| Growth Stage | show 🗑
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| show | Stage of the production life cycle when industry sales reach their peak, so firms try to rejuvenate their products by adding new features or re-positioning them.
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| show | Stage of the product life cycle when sales decline and the product eventually exists in the market.
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Created by:
towilliamsjr
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