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| The physical good or the delivered service that supplies the desired benefit. |
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| The actual product plus other supported features such as warranty, credit, delivery, installation, bundled services, and repair service after the sale. |
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| The step in the product development process in which marketers assess a product’s commercial viability. |
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| The final step in the product development process in which a new product is launched into the market. |
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| The extent to which a new innovation is consistent with the target market’s existing cultural values, customs, and practices. For example the IPOD was compatible with people's desire to control the music they carried around and listened to. |
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| The degree to which consumers find a new innovation or its use difficult to understand, learn and use. Complexity is the opposite of ease of use. |
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A change in an existing product that requires a moderate amount of learning or behavior change (ie., ipod’s change from using hard-drives to flash memory). |
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| A consumer good or service that is usually low-priced, widely available, or purchased frequently with a minimum of comparison or effort. |
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| The coming together of two or more technologies or industries to create a new system with greater benefits than its parts. Ex: iPhone or G3 phone which can download songs, make/play videos, do email, and Internet browsing. |
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| All the benefits the product will provide for consumers or business customers. Ex: what are all the benefits a person received from a hair cut (style). |
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| The process by which the use of a product spreads throughout a population. |
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| Discontinuous (Disruptive) innovation |
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A totally new product that creates major changes in the way we live. Some examples are PC’s, refrigerators, and email. |
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| Consumer products that provide benefits over a long period of time (usually many years) such as cars, furniture, and appliances. |
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| is a measurement tool that gauges the difference between a customer’s expectations of product or service quality and that level which actually occurred |
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| A tangible product that we can see, touch, smell, hear, or taste. |
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| The first step of product development in which marketers brainstorm for products that provide customer benefits and are compatible with the company mission. |
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| A product that consumers perceive to be new and different from existing products. |
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| Consumer products that provide benefits for a short time because they are consumed (such as food) or are no longer useful (such as yesterday's newspaper). |
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| Product concept development and screening |
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| The second step of product development in which marketers test product ideas for technical and commercial success. |
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| The process by which a consumer or business customer begins to buy and use a new good, service, or idea. |
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| Test versions of a proposed product. |
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| The degree to which a consumer perceives that a new product provides superior benefits than existing products. |
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| Basic or necessary items that are available almost everywhere. |
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| A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase. Consumers have enduring involvement for shopping products (ex: coffee beans). |
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| the fee that retail vendors charge to a manufacturer, or wholesaler to ensure a good product placement. For example the products are placed near the front of the store, at the end of each aisle, or at eye-level on the shelves. |
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| A type of good or service that has unique characteristics which often makes the the consumer brand loyal. There are probably not any 'generics' for the product. (ex: pepto-bismal?). |
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The step in the product development process in which a new product is refined and perfected by company engineers. |
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| Testing the complete marketing plan in a small geographic area that is similar to the large market the firm hopes to enter. |
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| The ease of sampling a new product and its benefits. For example test driving a car. |
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| Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention. |
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