Term
|
Definition
| product being functionally different than existing products. |
|
|
Term
| Dynamically continuous innovation |
|
Definition
| only minor changes in behavior are required to use these new products. |
|
|
Term
|
Definition
| involves making the consumer learn entirely new consumption patterns in order to use the product. |
|
|
Term
| New-product strategy development |
|
Definition
| the stage of the new-product process that defines the role for a new product in terms of the firm's overall corporate objectives. |
|
|
Term
|
Definition
| involves offering a product for sale on a limited basis in a defined area |
|
|
Term
|
Definition
| stages a new product goes through in the market place: introduction, growth, maturity, and decline. |
|
|
Term
|
Definition
| desire for the product class rather than for a specific brand since there are few competitors with the same product. |
|
|
Term
|
Definition
| demand for a specific brand |
|
|
Term
|
Definition
| high initial price to help the company recover the costs of development as well as take advantage of the price insensitivity of early buyers. |
|
|
Term
|
Definition
| prices low to discourage competitive entry, helps build unit volume, but company must closely monitor costs. |
|
|
Term
| Length of the product life cycle |
|
Definition
no exact time for a product.
as a rule, consumer products have shorter life cycles than business products. |
|
|
Term
|
Definition
| when a product diffuses, or spreads, through the population. |
|
|
Term
|
Definition
| organization's use of a name, phrase, design, symbol, or combination of these to identify and distinguish its products. |
|
|
Term
|
Definition
| any word, device (design, shape, sound, or color), or combination of these used to distinguish a seller's goods or services. |
|
|
Term
|
Definition
| added value a give brand name gives to a product beyond the functional benefits provided. |
|
|
Term
|
Definition
| manufacturer's branding strategy that uses one name for all products. |
|
|
Term
|
Definition
| when a company's name is used in the branding. |
|
|
Term
|
Definition
| the practice of using a current brand name to enter a new market segment in its product class. |
|
|
