MGTA02H3 Chapter 6: chapter 6 notes
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MGTA02H3 Full Course Notes
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Chapter 6 developing and promoting goods and services notes. N whether it is a physical good, a service, or some combination of the two, customers get value from the various benefits, features, N multiple product lines allow a company to grow rapidly and can help to offset consequences of slow sales in any one product line. N to increase their chances of developing a successful new product, many firms adopt some variation on a basic 7-step process: product ideas. Product development begins with a search for ideas for new products. Product ideas can come from consumers, the sales force, research and development people, or engineering personnel. The key is to actively seek out ideas and to reward those whose ideas become successful products: screening. This second stage is an attempt to eliminate all product ideas that do not mesh with the firm"s abilities, expertise, or objectives. Representatives from marketing, engineering, and production must have input at this stage: concept testing.
