Exam2_FC2 - The flashcards are formatted for printing....

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Discontinuous Innovations Continuous Innovations
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Normal upgrading of products with no change in user behavior. New-to-the world products; require users to change behaviors.
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1. Idea Generation 2. Idea Screening 3. Business Analysis 4. Development 5. Test Marketing 6. Commercializatio n Idea Generation
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Create many possibilities with input from employees, customers, suppliers, distributors, and competitors. New product development (NPD) process:
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Idea Screening Idea Generation
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Use brainstorming and focus groups. Quickly reduce the number of possibilities.
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Idea Screening Concept Test
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A test to evaluate a new product idea, usually before any prototype has been created. Use concept tests.
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Development Business Analysis
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Alternative versions of possibilities; describe in consumer terms. Create a physical prototype.
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New Products; Market Needs Test Marketing
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Limited introduction in a small market supported by a full- fledged marketing campaign to gauge customer reactions. Some products succeed while others fail because ____ needs to match ____.
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1. Introduction 2. Growth 3. Maturity 4. Decline Product Life Cycle
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A concept that provides a way to trace the stages of a product’s acceptance, from its introduction (birth) to its decline (death). Stages of product life cycles:
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Product Life Cycle Product Life Cycle
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At the level of the category and not the brand (i.e. cell phones NOT Cingular wireless). Different products go through the stages differently; timing of stages may vary substantially.
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1. Awareness 2. Interest 3. Evaluation 4. Trial 5. Adoption or Rejection Adoption Process
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Series of stages during which consumers decide whether or not to become a regular user of a new product. Consumer adoption process:
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1. Consumer Innovators 2. Early Adopters 3. Early Majority 4. Late Majority 5. Laggards Diffusion
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the adoption of an innovation spreads. Adopter categories:
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