BMGT 350 Chapter Notes -Brainstorming, Test Market

• School: University of Maryland
• Department: Business and Management
• Course: BMGT 350
• Professor: Roxanne Leftkoff

Document Summary

New-to-the-world products: smallest category, entirely new market (virtual canes) New product lines: allow a firm to enter a new market (books to pens) Additions to existing product lines: new products to line (new flavors of chips) Improvements or revisions of existing products: new and improved new aesthetics. Repositioned products: existing product targeted at new market. Lower-priced products: products provide similar performance but lower price. New product strategy: plan that links the new product development process with the objectives of marketing development, the business unit, and the corporation.