MKT Chapter 8 DSM
testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal
Concept testing is __________.
designing an initial marketing strategy for a new product based on the product concept
Marketing strategy development is __________.
Maturity
Modifying the market, product offering, or marketing mix is a product strategy in the ________ phase.
the development of original products, product improvements, product modifications, and new brands through the firm's own efforts
New product development is __________.
growth
Offering product extensions, service, and warranty is a product strategy in the __________ phase.
Decline
Phasing out weak items is a product strategy in the __________ phase.
A basic and distinctive mode of expression
Style is __________.
Introduction Stage
The __________ is the PLC stage in which a new product is first distributed and made available for purchase.
Decline stage
The __________ is the PLC stage in which a product's sales fade away.
Maturity Stage
The __________ is the PLC stage in which a product's sales growth slows or levels off.
Growth stage
The __________ is the PLC stage in which a product's sales start climbing quickly.
Customer-centered new product development
__________ focuses on finding new ways to solve customer problems and create more customer-satisfying experiences.
Team-based new product development
__________ involves various company departments working closely together, overlapping the steps in the product development process to save time and increase effectiveness.
Style
__________ is a basic and distinctive mode of expression.
Fashion
__________ is a currently accepted or popular style in a given field.
Product Concept
__________ is a detailed version of a new product idea stated in meaningful consumer terms.
A fad
__________ is a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.
Crowdsourcing
__________ is inviting broad communities of people—customers, employees, independent scientists and researchers, and even the public at large—into the new product innovation process.
Idea Screening
__________ is scanning new product ideas to spot good ideas and drop poor ones as soon as possible.
Idea generation
__________ is the systematic search for new product ideas.
Product Development
__________ is developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering.