MKTG 310 Chapter Notes - Chapter 8: Marketing Mix, Innovation Management, Business Analysis
7 Oct 2016
School
Department
Course
Professor
Document Summary
238): the development of original products, product improvements, product modifications, and new brands through the firm"s own product development efforts. New products: original products, product improvements, product modifications, and new brands that the firm develops through its own research and development (r&d) efforts. 239): the systematic search for new product ideas. 241): inviting broad communities of people- customers, employees, independent scientists and researchers, and even the public at large- into the new product innovation process. Idea screening: screening new product ideas to spot good ones and drop poor ones as soon as possible. 243): a detailed version of the new product idea stated in meaningful consumer terms. 244): testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal. 245): designing an initial marketing strategy for a new product based on the product concept. The marketing strategy statement- consists of three parts.
