This site is 100% ad supported. Please add an exception to adblock for this site.

MKTG Ch. 8


undefined, object
copy deck
early adopters
Those who adopt an innovation early in the diffusion process but after the innovators.
business analysis
The step in the product development process in which marketers assess a product's commercial viability.
convenience product
A consumer good or service that is usually low priced, widely available, and purchased frequently with a minimum of comparison and effort.
processed materials
Products created when firms transform raw materials from their original state.
The last consumers to adopt an innovation.
discontinuous innovation
A totally new product that creates major changes in the way we live.
The final step in the product development process in which a new product is launched into the market.
technical development
The step in the product development process in which a new product is refined and perfected by company engineers and the like.
impulse purchase
A purchase made without any planning or search effort.
early majority
Those whose adoption of a new product signals a general acceptance of the innovation.
durable goods
Consumer products that provide benefits over a long period of time, such as cars, furniture, and appliances.
The coming together of two or more technologies to create a new system with greater benefits than its parts.
A product that consumers perceive to be new and different from existing products.
shopping product
A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase.
specialized services
Services purchased from outside suppliers that are essential to the operation of an organization but are not part of the production of a product.
The process by which the use of a product spreads throughout a population.
A new product that copies with slight modification the design of an original product.
specialty products
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.
continuous innovation
A modification of an existing product that sets one brand apart from its competitors.
Test versions of a proposed product.
A tangible product that we can see, touch, smell, hear, or taste.
test marketing
Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter,
product concept development and screening
The second step of product development in which marketers test product ideas for technical and commercial success.
component parts
Manufactured goods or subassemblies of finished items that organizations need to complete their own products.
nondurable goods.
Consumer products that provide benefits for a short time because they are consumed(such as food) or are no longer useful(such as newspapers).
unsought products
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.
dynamically continuous innovation
A change in an existing product that requires a moderate amount of learning or behavior change.
maintenance, repair, and operating products
Goods that a business customer consumers in a relatively short time.
Expensive goods that an organization uses in its daily operations that last for a long time.
raw materials
Products of the fishing, lumber, agricultural, and mining industries that organizational customers purchase to use in their finished products.
The first segment (roughly 2.5%) of a population to adopt a new product.
idea generation
The first step of product development in which marketers brainstorm for products that provide customer benefits and are compatible with the company mission.

Deck Info