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Definition
| Buy a business, patent or license to produce |
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Term
| Developing your own products can be |
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Definition
Expensive and risky
90% failure rate |
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Term
| why do so many new products fail |
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Definition
| Poor design, wrong timing, incorrectly positioned, priced or advertised excessive cost |
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Term
| new product development process |
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Definition
| Idea generation, idea screening concept development and testing, Business plan development, product development, test marketing, commercialization |
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Definition
| brainstorming, trends, ad agency, competitors |
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Definition
| selecting high potential ideas |
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Term
| concept development and testing |
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Definition
| testing and developing screened ideas with a group of target consumers to discover if concepts have strong appeal |
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Term
| Business plan development |
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Definition
| target, positioning, sales forecast, market share, profit goals, price, distribution, promotion |
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Definition
| prototype, developing the product concept into a physical product to ensure the product idea can be turned into a workable product |
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Definition
| Employees trying it our and potential consumers |
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Term
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Definition
| product and marketing program are tested assess potential for success. |
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Definition
| introducing a new product into a market |
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Term
| product characteristics that influence the rate of adoption |
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Definition
| relative advantage, compatibility, complexity, communicability |
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Term
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Definition
| patents, copyrights, trademarks, trade secrets |
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Term
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Definition
| an exclusive right, granted by the government, to produce, use and sell an invention or process. |
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Term
| Three types of patents are |
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Definition
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Term
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Definition
| obtain rights by using it and applying TM |
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Term
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Definition
| the exclusive legal right to artistic or scholarly work. includes the right to reproduce, create various versions and perform the work publicly |
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Term
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Definition
| File with the U.S copyright office need to file with each country |
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Term
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Definition
| Ideas/expressions not protected after patents and copyrights expire |
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Term
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Definition
| Do not need to obtain permission for "fair use" of the work ex. reporting, teaching, research |
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Term
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Definition
| methods, formulas, other kinds, of information with business value and derived value from being kept secret. |
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Term
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Definition
| Manufacturer or national brand,store or private label brand, licensing, co branding |
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Term
| Trends can be opportunities |
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Definition
| growth of internet, technological advances(apps), social networking, aging of population, recession, concern over the environment, others? |
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Term
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Definition
| Generate, evaluate, go/no-go decision |
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Term
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Definition
| speak for easy listening, don't judge ideas until action is required, hear ideas in the best possible way, find value in ideas, Understand before evaluating, use negatives to give direction |
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