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Definition
| the development of original products, product improvements, product modifications, and new brands through the firm's won product-development efforts |
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Definition
| the systematic search for new product ideas |
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Term
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Definition
| screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible |
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Term
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Definition
| a detailed version of the new-product idea stated in meaningful consumer terms |
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Term
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Definition
| testing new-product concepts with a group of target consumers to find out if the concepts have strong consumer appeal |
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Term
| marketing strategy development |
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Definition
| designing an initial marketing strategy for a new product based on the product concept |
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Definition
| a review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives |
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Definition
| developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable market offering |
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Definition
| the stage of new-product development in which the product and marketing program are tested in realistic market settings |
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Term
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Definition
| introducing a new product into the market |
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Term
| customer-centered new-product development |
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Definition
| new-product development that focuses on finding new ways to solve customer-satisfying experiences |
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Term
| Team-based new-product development |
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Definition
| an approach to developing new products in which various company departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness |
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Term
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Definition
| the course of a product's sales and profits over its lifetime. It involves five distinct stages: product development, introduction, growth, maturity, and decline |
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Term
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Definition
| a basic and distinctive mode of expression |
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Term
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Definition
| a currently accepted or popular style in a given field |
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Term
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Definition
| a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity |
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Term
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Definition
| the product life-cycle stage in which the new product is first distributed and made available for purchase |
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Term
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Definition
| the product life-cycle stage in which a product's sales start climbing quickly |
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Definition
| the product life-cycle stage in which sales growth slows or levels off |
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Term
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Definition
| the product life-cycle stage in which a product's sales decline |
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