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20 Cards in this Set
- Front
- Back
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Business analysis
pg. 257 |
specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
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Business products
pg. 244 |
products organizations buy that assist in providing other products for resale
-also called B2B or industrial products |
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Commercialization
pg. 259 |
the stage of the new product process that positions and launches a new product in full-scale production and sales.
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Consumer products
pg. 244 |
products purchased by the ultimate consumer
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Convenience products
pg. 244 |
are items that the consumer purchases frequently, conveniently and with a minimum of shopping effort.
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Development
pg. 257 |
the stage of the new product process that turns the idea on paper into a prototype.
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Idea generation
pg. 254 |
the second stage of the new product process, involves developing a pool of concepts to serve as candidates for new products, building upon the previous stage's results.
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Market testing
pg. 258 |
a stage of the new product process that involves exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy.
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New-product process
pg. 253 |
the seven stages an organization goes through to identify business opportunities and convert them into salable products or services.
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New-product strategy development
pg. 254 |
the stage of the new product process that defines the role for a new product in terms of the firs overall objectives
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Product
pg. 244 |
a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers needs and is received in exchange for money or something else of value
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Product item
pg. 246 |
a specific product that has a unique brand, size, or price.
ex: Ultra downey softener for clothes comes in several different sizes. |
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Product line
pg. 246 |
a group of product or service items that are closely related because they satisfy a class of needs, and are used together, are sold to the same customer group, are distributed through the same outlets, or within a given price range
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Product mix
pg. 246 |
consists of all of the product lines offered by an organization.
ex: Cray inc. has a small product mix of five super computer lines that are sold mostly to governments and large businesses. |
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Protocol
pg. 251 |
a statement that, before product development begins, identifies (1) a well defined target market; (2) specific customers needs, wants, and preferences; and (3) what the product will be and do to satisfy consumers
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Screening and evaluation
pg. 256 |
the stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort.
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Services
pg. 244 |
are intangible activities or benefits that an organization provides to satisfy consumers needs in exchange for money or something else of value.
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Shopping products
pg. 245 |
items for which the consumer compares several alternative on criteria such as price, quality, or style.
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Specialty products
pg. 245 |
items that the consumer makes a special effort to search out and buy
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Unsought products
pg. 245 |
items that the consumer does not know about or knows about but does not initially want.
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