Marketing Chapter 10 Outline

Marketing Chapter 10 Outline - Marketing Chapter 10 Outline...

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Marketing Chapter 10 Outline I. The Importance of New Products a. Importance i. Sustain Growth ii. Increase Revenues and Profits iii. Replace Obsolete Items b. Categories of New Products i. New Product a product new to the world, the market, the producer, the seller, or some combination of these 1. New to the world (Discontinuous innovations) 2. New product lines 3. Additions to existing product lines 4. Improvements or revisions of existing products 5. Repositioned Products 6. Lower priced products II. The New-Product Development Process a. Process i. New product strategy ii. Idea generation iii. Idea screening iv. Business analysis v. Development vi. Test marketing vii. Commercialization viii. Final NEW PRODUCT b. New Product Strategy i. A plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation. c. Idea Generation i. Come from customers, employees, distributors, competitors, vendors, research and development, and consultants ii. Product Development a marketing strategy that entails the creation of marketable new products, the process of converting applications for new technologies into marketable products iii. Brain Storming the process of getting a group to think of
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Marketing Chapter 10 Outline - Marketing Chapter 10 Outline...

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