Chapter 6: Developing & managing product
new product
the market, the producer, the seller,
or some combination of these
categories
•new-to-the-world
•product line additions
•new product lines
development process
new -product-strategy
idea generation
idea screening
business analysis
developmemt
idea generation
-customers, employees, distributors,
competitors, vendors, consultants
brainstorming
getting a gp to think unlimited ways to
vary a product or solve a problem
concept test
to evaluate a new-product idea, usually
before any prototype has been created
development
marketing strategy
packaging, branding, labeling
creation of prototype
simultaneous product development
new team-oriented approach to
new-product development
test marketing
limited introduction of product
alternatives
simulated market testing
online test marketing
commercialization
product
sales training
inventory buildup
why new product fail
no discernible benefits
poor promotion
inferior product
success factors
match between products and market needs
differents from substitute products
benefit to large number of people
introductory stage
product life cycle
strong leadership
getting every aspect right
listening to custimers
vision of future market
concept that provides a way to trace
the stages of product's acceptances
little competition
high failures rates
limited distribution
growth stage
increasing rates of sales
market solidation
wider distribution
maturity stage
saturated markets
annual model appear
sales increase at a decreasing rate
decline stage
long-run drop in sales
large inventories of unsold items
"organized abadonment"