Marketing chapter 8

__________ is the systematic search for new product ideas.

Idea generation

__________ is a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.

A fad

__________ is testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal.

Concept testing

__________ is inviting broad communities of people—customers, employees, independent scientists and researchers, and even the public at large—into the new product innovation process.

Crowdsourcing

__________ focuses on finding new ways to solve customer problems and create more customer-satisfying experiences.

Customer-centred new product development

__________ is a currently accepted or popular style in a given field.

Fashion

__________ is scanning new product ideas to spot good ideas and drop poor ones as soon as possible.

Idea screening

__________ is designing an initial marketing strategy for a new product based on the product concept.

Marketing strategy development

__________ is a detailed version of a new product idea stated in meaningful consumer terms.

Product concept

__________ is developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering.

Product development

__________ involves various company departments working closely together, overlapping the steps in the product development process to save time and increase effectiveness.

Team-based new product development

Style is __________.

a basic and distinctive mode of expression

Phasing out weak items is a product strategy in the __________ phase.

decline

The __________ is the PLC (Product Life Cycle) stage in which a product's sales fade away.

decline stage

Offering product extensions, service, and warranty is a product strategy in the __________ phase.

growth

The __________ stage is the PLC (Product Life Cycle) stage in which a new product is first distributed and made available for purchase.

introduction

Modifying the market, product offering, or marketing mix is a product strategy in the ________ phase.

maturity

The __________ is the PLC (Product Life Cycle) stage in which a product's sales growth slows or levels off.

maturity stage

New product development is __________.

the development of original products, product improvements, product modifications, and new brands through the firm's own efforts