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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
| Screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible |
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Definition
| A detailed version of the new-product ideas stated 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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Term
| Market 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 in order to ensure that the product idea can be turned into a workable market offering |
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Definition
| The stage of new-product development in which the product and 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 focuses on finding new ways to solve customer problems and create more customers 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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Definition
| The course of a product's sales and profits over its lifetime |
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Term
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Definition
| A basic and distinctive mode 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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Term
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Definition
| The product life-cycle stage in which the new product is first distributed and made available for purchase |
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Term
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Definition
| The product life-cycle stage in which a product's sales start climbing quickly |
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Definition
| The product life-cycle stage in which sales growth slows or levels off |
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Term
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Definition
| The product life-cycle stage in which a product's sales decline |
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