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Developing and Managing Products
Chapter 11
9
Marketing
Undergraduate 4
03/27/2012

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Term
a marketing strategy that entails the creation of marketable new products; the process of converting applications for new technologies into marketable products
Definition
Product Development
Term
the first filter in the product development process, which eliminates ideas that are inconsistent with the organization’s new- product strategy or are obviously inappropriate for some other reason
Definition
Screening
Term
a test to evaluate a new-product idea, usually before any prototype has been created
Definition
Concept Test
Term
the second stage of the screening process where preliminary figures for demand, cost, sales, and profitability are calculated
Definition
Business Analysis
Term
the stage in the product development process in which a prototype is developed and a marketing strategy is outlined
Definition
Development
Term
the presentation of advertising and other promotional materials for several products, including a test product, to members of the product’s target market
Definition
Simulated Market Testing
Term
the decision to market a product
Definition
Commercialization
Term
the process by which the adoption of an innovation spreads
Definition
Diffusion
Term
all brands that satisfy a particular type of need
Definition
Product category
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