MKT 300 Lecture Notes - Lecture 8: New Product Development, Test Market, Business Analysis
Document Summary
First stop: samsung-enriching customers" lives through new product innovation: transition from a low-cost knock-off to a cutting-edge technology brand, aimed to dethrone sony. Set out to become a premier brand. Focused on customer-centered new product: wants to be the first company that finds and develops the next product in consumer electronics. New product development: development of new products through the firm"s own research and. New product original products, product improvement and: creating successful new products requires: development efforts modifications, and new brands. Developing products that deliver superior value to customers. Idea screening: concept development and testing, marketing strategy development, business analysis, product development, test marketing, commercialization. Idea generation: systematic search for new product ideas. Internal social networks: external idea sources: Distributors and suppliers: crowdsourcing: inviting broad communities of people into the new product innovation process. Idea screening: screening new product ideas to spot good ones and drop poor ones as soon as possible, ways of screening new ideas:
