Term
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Definition
| describes the stages a really new product idea goes through from beginning to end. |
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Term
1. market introduction
2. market growth
3. market maturity
4. sales decline |
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Definition
| four major stages of product life cycle |
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Term
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Definition
| sales are low as a new idea is first introduced to a market |
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Term
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Definition
| industry sales grow fast--but industry profits rise and then start falling. |
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Term
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Definition
| industry sales level off and competition gets tougher |
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Term
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Definition
| new products replace old products |
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Term
1. idea generation
2. screening
3. idea evaluation
4. development
5. commercialization |
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Definition
| new-product development process stages |
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Term
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Definition
| ideas from customers and users, marketing research, competitors, other markets |
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Term
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Definition
| manage specific products--take over the jobs formerly handled by an advertising manager |
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Term
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Definition
| a commitment to constantly make things better one step at a time. |
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Term
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Definition
| giving employees the authority to correct a problem without first checking with management |
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