BUAD301 Lecture Notes - Lecture 4: National Institutes Of Health, Test Market, Autonomous Car

• School: University of Delaware
• Department: Business Administration
• Course: BUAD301
• Professor: Patrick Joseph Costigan

Document Summary

Discontinuous innovation: consumers must learn entirely new consumption patterns. Marketing strategies involve: gaining consumer awareness and educating consumer on both the benefits and proper use of the product. Example: buying a wireless router for your computer. The u. s federal trade commission (ftc) advises that the new be limited to use with a product up to six months after it enters regular distribution. The word new should not be used on a product after 6 months. Regular distribution in terms of the law remain undefined. Product line extension: the lowest level is a product line, which: Is an incremental improvement of an existing product. Example : purina elegant medley"s (cat food) Jump in innovation: the next level consists of either: A significant jump in the innovation or technology, such as a mobile phone manufacturer offering a smart phone or a. Brand extension: involves putting an established brand name on a new product in an unfamiliar market.