Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
22 Cards in this Set
- Front
- Back
New Product Development Process (IICMBPTC)
|
Idea Generation
Idea Screening concept development and testing market strategy development business analysis product development test marketing commercialization |
|
product life-cyle strategies (PIGMD)
|
Produce Development
introduction stage growth stage maturity stage decline stage |
|
The development of original product, product improvements, product modifications, and new brands through the firm's own product-development efforts
|
new product development
|
|
systematic search for new product ideas
|
idea generation
|
|
screening new product ideas in order to spot good ideas and drop poor ones as soon as possible
|
idea screening
|
|
a detailed version of the new product idea stated in meaningful comsumer terms
|
product concept
|
|
testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal
|
concept testing
|
|
designing an initial marketing strategy for a new product based on the product concept
|
marketing strategy development
|
|
a review of sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives
|
business analysis
|
|
developing the product concept into a physical product in order to ensure that the product idea can be turned into a workable market offering
|
product development
|
|
stage of new product development in which the product and marketing program are tested in realistic market setting
|
test marketing
|
|
introducing a new product into the market
|
commercialization
|
|
new product development that focuses on finding new ways to solve customer problems and create more customer satisfying experiences
|
customer-centered new-product development
|
|
an approach to developing new product in which various company departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness
|
team-based new-product development
|
|
course of a product's sales and profits over its lifetime.
|
product life cycle
|
|
basic and distinctive mode of expression
|
style
|
|
currently accepted or popular style in a given field
|
fashion
|
|
temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity
|
fad
|
|
product life-cycle stage in which the new product is first distributed and made available for purchase
|
intro stage
|
|
the product life-cycle stage in which a product's sales start climbing quickly
|
growth stage
|
|
a product life-cycle stage in which sales growth slows or levels off
|
maturity stage
|
|
product life-cycle stage in which a product's sales decline
|
decline stage
|