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marketing chapter 10
developing and managing products
19
Marketing
10/04/2010

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Term
line extension
Definition
is the development of a product that is closely related to one ore more products in the existing product line but designed to specifically to meet somewhat different customer needs.
Term
product modification
Definition
means changing one or more characteristics of a product
Term
quality modifications
Definition
are changes relating to a products dependability and durability
Term
functional modifications
Definition
changes that affect a products vesatility, effectiveness, convenience, or safety
Term
aesthetic modifications
Definition
change the sensory appeal of a product by altering its taste, texture, sound, smell, or appearance
Term
new-product-development-process
Definition
1. idea generation
2. screening
3. concept testing.
4. business analysis
5. product development.
6. test marketing
7. commercialization
Term
screening
Definition
the ideas with the greatest potential are selected for further review
Term
concept testing
Definition
a small sample of potential buyers is presented with a product idea through a written or oral description
Term
business analysis
Definition
the product idea is evaluatied to determin its potential contribution to the firms sales, costs, and profits
Term
product development
Definition
is the phase in which the organization determines if it is technically feasible to produce the product and if it can be produced at costs low enough to make the final price reasonable
Term
test marketing
Definition
is a limited introduction of a product in geographic areas chosen to represent the intended market
Term
commercialization
Definition
plans for full-scale manufacturing and marketing must be refined and finalized and budgets for the project prepared
Term
product differentiation
Definition
is the process of creating and designing products so customers preceive them as defferent from competing products
Term
quality
Definition
refers to the overall characteristics of a product that allow it to preform as expected in satisfying customer needs
Term
product design
Definition
refers to how a product is conceived, planned, and produced
Term
product manager
Definition
is responsible for a product, a product line, or several distinct products that make up an interrelated group within a multiproduct organization
Term
brand manager
Definition
is responsible for a single brand
Term
market manager
Definition
is responsible for managing marketing activities that serve a particular group of customers
Term
venture team
Definition
creates entirely new products that may be aimed at new markets