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| The physical good or the delivered service that supplies the desired benefit. |
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| The actual product plus other supported features such as warranty, credit, delivery, installation, bundled services, and repair service after the sale. |
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| The step in the product development process in which marketers assess a product’s commercial viability. |
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| The final step in the product development process in which a new product is launched into the market. |
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| The extent to which a new innovation is consistent with the target market’s existing cultural values, customs, and practices. |
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| The degree to which consumers find a new innovation or its use difficult to understand, learn and use. |
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| A change in an existing product that requires a moderate amount of learning or behavior change (ie., ipod’s change from using hard-drives to flash memory). |
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| A consumer good or service that is usually low-priced, widely available, or purchased frequently with a minimum of comparison or effort. |
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| The coming together of two or more technologies or industries to create a new system with greater benefits than its parts. Ex: iPhone or Wap phone which can download songs, make/play videos, do email, and Internet browsing. |
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| All the benefits the product will provide for consumers or business customers. Ex: what are all the benefits a person received from a hair cut (style). |
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| The process by which the use of a product spreads throughout a population. |
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A totally new product that creates major changes in the way
we live. Some examples are PC’s, refrigerators, and penicillin vaccinations. |
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| Consumer products that provide benefits over a long period of time (usually many years) such as cars, furniture, and appliances. |
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| is a measurement tool that gauges the difference between a customer’s expectations of product or service quality and that level which actually occurred |
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| A tangible product that we can see, touch, smell, hear, or taste. |
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| The first step of product development in which marketers brainstorm for products that provide customer benefits and are compatible with the company mission. |
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| A product that consumers perceive to be new and different from existing products. |
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| Consumer products that provide benefits for a short time because they are consumed (such as food) or are no longer useful (such as yesterday's newspaper). |
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| Product concept development and screening |
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| The second step of product development in which marketers test product ideas for technical and commercial success. |
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| The process by which a consumer or business customer begins to buy and use a new good, service, or idea. |
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| Test versions of a proposed product. |
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| The degree to which a consumer perceives that a new product provides superior benefits than existing products. |
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| Basic or necessary items that are available almost everywhere. |
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| A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase. |
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| the fee that retail vendors charge to a manufacturer, or wholesaler to ensure a good product placement. For example the products are placed near the front of the store, at the end of each aisle, or at eye-level on the shelves. |
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| A good or service that has unique characteristics and is important to the buyer and for which the buyer will devote significant effort to acquire. |
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| The step in the product development process in which a new product is refined and perfected by company engineers. |
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| Testing the complete marketing plan in a small geographic area that is similar to the large market the firm hopes to enter. |
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| The ease of sampling a new product and its benefits. |
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| Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention. |
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