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Notes 10-20-2010

Notes 10-20-2010 - C O M M 3315-502 Fundamentals of M ar...

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COMM 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 Tried to introduce in 1960s but women were perceived as lazy if they had them Reintroduced in 1970s Harder to get into the market Consumer are uncertain May have to wait until timing is right 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
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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. Its production may or may not be tied to a physical product.
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