BUS 202 Lecture 9: Mark 1115 Chapter 9 Vocab
13 Dec 2016
School
Department
Course
Professor
Document Summary
A consumer who is happy enough with his or her trial experience with a product to use it again. p. 284 brainstorming. A test to evaluate a new product idea, usually before any prototype has been created. p. 278 decline stage. A long-run drop in sales. p. 290 development. The stage in the product development process during which a prototype is developed and a marketing strategy is outlined. p. 279 diffusion. The process by which the adoption of an innovation spreads. p. 284 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 acquiring small pioneering companies, and profits are healthy. p. 289 innovation. A product perceived as new by a potential adopter. p. 284 introductory stage. The full-scale launch of a new product into the marketplace. p. 288 maturity stage.
