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Chapter_11_Glossary

Chapter_11_Glossary - Chapter 11 Glossary brainstorming the...

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Chapter 11 Glossary brainstorming the process of getting a group to think of unlimited ways to vary a product or solve a problem business analysis the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated commercialization the decision to market a product concept test a test to evaluate a new-product idea, usually before any prototype has been created decline stage a long-run drop in sales development the stage in the product development process in which a prototype is developed and a marketing strategy is outlined diffusion the process by which the adoption of an innovation spreads growth stage the second stage of the product life cycle when sales typically grow at an increasing rate, many competitors enter the market, large companies may start to acquire small pioneering firms, and profits are healthy innovation a product perceived as new by a potential adopter introductory stage
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