Chapter 11 Vocab - Marketing Management

a product new to the world, the market, the producer, the seller, or some combination of these

a plan that links the new product development process with the objectives of the marketing department, the business unit, and the corporation

a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products

the process of getting a group to think of unlimited ways to vary a product or solve a problem

the first filter in the product development process which eliminates ideas that are inconsistent with the organizations new-product strategy or are obviously inappropriate for some other reason

a test to evaluate a new-product idea usually before any prototype has been created

the second stage of the screening process where preliminary figures for demand cost sales and profitability are calculated

the stage in the product development process in which a prototype is developed and a marketing strategy is outlined

a team oriented approach to new product development

the limited introduction of a product and a marketing program to determine the reactions of potential customers in a market situation

the presentation of advertising and other promotional materials for several products including a test product to memebers of the products target market

the decision to market a product

a product perceived as new by a potential adopter

the process by which the adoption of innovation spread

a concept that provides a way to trace the stages of a products acceptance from its introduction to its decline

all brands that satisfy a particular type of need

the full scale launch of a new product into the marketplace

the second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start to acquire small pioneering firms, and profits are healthy

a period during which sales increase at a decreasing rate

a long-run drop in sales