Marketing 11

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Author:
Anonymous
ID:
144651
Filename:
Marketing 11
Updated:
2012-03-29 16:38:13
Tags:
Stutz031
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Description:
Marketing 11
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  1. New Product
    a product new to the world, the market, the producer, the seller, or some combination of these
  2. Pioneering Advantage
    • -better to be FIRST than it is to be better
    • -consumer expectations are usually shaped by the first encountered brand
  3. New Product Development Process (7)
    • 1) idea generation
    • 2) idea screening
    • 3) concept development and testing
    • 4) business analysis
    • 5) product development
    • 6) test marketing
    • 7) commercialization
  4. Reasons for Product Failuer (5)
    • 1) no competitive point of difference or unexpected reactions from competitors.
    • 2) rapid change in market or economy after product introduction
    • 3) poor quality of product
    • 4) no delivery of promised benefits of product
    • 5) too little marketing support or poor execution of the marketing mix
  5. Categories of Adopters
    • 1) innovators
    • 2) early adopters
    • 3) early majority
    • 4) late majority
    • 5) laggards
  6. Product Life Cycle
    intro stage -> growth stage -> maturity stage -> decline stage
  7. innovation
    a product perceived as new by a potential adopter

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