IBM 301 Lecture Notes - Lecture 11: Focus Group, Brainstorming

20 views1 pages
Published on 20 Mar 2019
Course
Professor
Chapter 11: Developing and Managing Products
Approaches for New Product Development
Brainstorming: The process of getting a group to think of unlimited ways to vary a
product or solve a problem
Focus Group: The objective of focus group interviews is to stimulate insightful comments
through group interaction.
Test Marketing
The limited introduction of a product and a marketing program to determine the reactions
of potential customers in a market situation
Product Failure
Despite the amount of time and money spent on developing and testing new products, a
large proportion of new product introductions fail
The most important factor in successful new-product introduction is a good match
between the product and market
Diffusion
The process by which the adoption of an innovation spreads
Unlock document

This preview shows half of the first page of the document.
Unlock all 1 pages and 3 million more documents.

Already have an account? Log in

Get OneClass Notes+

Unlimited access to class notes and textbook notes.

YearlyBest Value
75% OFF
$8 USD/m
Monthly
$30 USD/m
You will be charged $96 USD upfront and auto renewed at the end of each cycle. You may cancel anytime under Payment Settings. For more information, see our Terms and Privacy.
Payments are encrypted using 256-bit SSL. Powered by Stripe.