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Definition
| The development of original products, product improvements, product modifications, and new brands through the firm's own product development efforts. |
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Definition
| The systematic search for new-product ideas |
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Definition
| Inviting broad communities of people-- customers, employees, independent scientists and researchers, and even the public at large-- into the new-product innovation process. |
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Definition
| Screening new-product ideas to spot good ideas and drop poor ones as soon as possible. |
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Definition
| A detailed version of the new-product idea started in meaningful consumer terms. |
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Definition
| Testing new-product concepts with a group of target consumers to find out if the concepts have strong consumer appeal. |
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| Marketing strategy development |
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Definition
| Designing an initial marketing strategy for a new product based on the product concept. |
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Definition
| A review of the sales, costs, and profit projections for a new product to find out whether these factors satisfy the company's objectives. |
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Definition
| Developing the product concept into a physical product to ensure that the product idea can be turned into a workable marketing offering. |
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Definition
| The stage of new-product development in which the product and its proposed marketing program are tested in realistic market settings. |
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Definition
| Introducing a new product into the market |
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Term
| Customer-centered new-product development |
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Definition
| New-product development that foruces on finding new ways to solve customer problems and create more customer-satisfying experiences. |
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Term
| Team-based new-product development |
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Definition
| An approach to developing new products in which various company departments work closely together, overlapping the steps in the product development process to save time and increase effectiveness. |
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Term
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Definition
| The course of a products sales and profits over its lifetime. It involves five distinct stages: product development, introduction, growth, maturity, and decline. |
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Term
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Definition
| A basic and distinctive mod of expression |
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Term
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Definition
| A currently accepted or popular style in a given field. |
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Term
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Definition
| A temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity. |
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Definition
| The PLC stage in which a new product is first distributed and made available for purchase. |
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Definition
| The PLC stage in which a product's sales start climbing quickly. |
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Definition
| The PLC stage in which a product's sales growth slows or levels off. |
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Definition
| The PLC stage in which a product's sales decline |
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