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Unformatted text preview: COM M 3315-502: Fundamentals of Marketing Notes 10-20-2010 (B14) • Types of innovation o Continuous innovation – not much change for how a consumer is going to do something o Dynamically continuous innovation – there will be some part changed Example – cordless change o Discontinuous innovation – very new, requires a change in what consumers are doing Example – microwave • T r ied to introduce in 1960s but women were perceived as lazy if they had them • Reintroduced in 1970s Ha rder to get into the market • Consumer are uncertain • May have to wait until timing is r ight • Symbolic innovation o Extending product lifecycle o New usage or way to use a product o Example – Clorox and flowers • Services o Product – does not have to be a tangible good Service, idea • Definition o A service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. I ts production may or may not be tied to a physical product. I ts production may or may not be tied to a physical product....
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This note was uploaded on 01/24/2011 for the course COMM 3315 at UVA.