MKTG 380 Chapter Notes - Chapter 8: Bleeding Edge Technology, New Product Development, Limited Release
Document Summary
8: product i: innovation and new product development. Actual product: the physical good or the delivered service that supplies the desired benefit. Adoption pyramid: reflects how a person goes from being unaware of an innovation through stages from the bottom up of awareness, interest, evaluation, trial, adoption, and confirmation. Attributes: include features, functions, benefits, and uses of a product. Marketers view products as a bundle of attributes that includes the packaging, brand name, benefits, and supporting features in addition to a physical good. Augmented product: the actual product plus other supporting features such as a warranty, credit, delivery, installation, and repair service after the sale. Beta test: limited release of a product, especially an innovative technology, to allow usage and feedback from a small number of customers who are willing to test the product under normal, everyday conditions of use. Business analysis: the step i(cid:374) the product de(cid:448)elop(cid:373)e(cid:374)t process i(cid:374) (cid:449)hich (cid:373)arketers assess a product"s commercial viability.
