Professors on the Go!Chapter 9New-Product Development and Product Life-Cycle Strategies1.Key ConceptsThe steps in the new product development strategy•Why is concept testing important?•Under what conditions would you consider nottest marketing a product? Describe a product or service that meets these no-need-to-test criteria.•Compare the sequential product development to the team-based approach. Is one approach better than the other? Explain.•Identify one new product for each of the classifications of style, fashion, and fad. What are the factors that contribute to the dynamics of the length and shape of the product life cycle curve for each of these? •Identify a product that is being test marketed. Gather information on the product in order to describe the activities that are taking place as part of this test market phase. •Take a walk through the grocery store. Identify a list of new products. What
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Product life cycle management, Product Life-Cycle Strategies