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| An attempt by the firm to determine wherher a product will perform accoding to its design and whether it satisfies the need for which it was intended. Occurs in the firm's research and development department |
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| Having potential consumers examine a product prototype in a real use setting to determine its functionality, performance, potential problems, and other issues specific to its use |
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| medical test of the safety and efficacy of a new drug or treatment with human subjects |
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| Brief written descriptions of a product or serve. Its technology, working principles, forms, and what customer needs it wants to satisfy |
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| the process in which a concept statement that describes a product or service is presented to potential buyers or users to obtain their reactions |
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| stage of the product life cycle when sales decline and the product eventually exists the market |
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| the process by which the use of an innovation, whether a product or a service , spread throughout a market group over time and over various categories of adopters. |
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| the second group of consumers in the diffusion of innovation model, after innovators, to use a product or service innovation. Generally don't like to take as much risk as innovators but instead wait and purchase the product after careful review |
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| A group of consumers in the diffusion of innovation model the represents approximately 34 percent of the population. Members don't like to take much risk and therefore tend to wait until bugs are worked out of a particular product or service |
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| Product pioneers that are the first to create a market or product category, making them readily recognizable to consumers and thus establishing a commanding and early market share lead. |
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| Stage of the product life cycle when the product gains acceptance, demand and sales increase, and competitors emerge in the product category |
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| the process by which ideas are transformed into new products and services that will help firms grow |
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| those buyers who want to be the first to have the new product or service |
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| stage of the product life-cycle when innovators start buying the product |
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| introductory price promotion |
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| short-term price discounts designed to encourage trial |
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| consumers who like to avoid change and rely on traditional products until they are no longer available. |
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| the last group of buyer to enter a new product market. when they do the product has achieved full potential. |
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| innovative product users who modify existing products according to their own ideas to suit their specific needs. |
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| the price that manufactures suggest retailers use to sell their merchandise |
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| stage of the product life cycle when industry sales reach their peak so firms try to rejuvenate their products by adding new features or re positioning them |
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| new product introductions that establish a completely new market or radically change both rules of competition and consumer preferences in a market |
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| conducted before a product or service is brought to market to determine how many customers will try and then continue to use it. |
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| entails a process of balancing various engineering, manufacturing, marketing, and economic considerations to develop a product's form and features or a service's features |
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| Defines the stages that new products move through as they enter, get established in, and ultimately leave the marketplace and thereby offers marketers a starting point for their strategy planning |
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| the first physical form or service description of a new product, still in rough or tentative form, that has the same properties as a new product but is produced through different manufacturing processes, sometimes even crafted individually. |
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| involves taking apart a competitor's product, analyzing it, and creating an improved product that does not infringe on the competitor's patents, if any exist |
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| fees firms pay to retailers simply to get new products into stores or to gain more or better shelf space for their products |
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| introduces a new product or service to a limited geographical area prior to the national branch |
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| major events attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry. |
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