BUSMKT 1040 Lecture 11: Marketing Ch. 11.docx
Document Summary
Idea screening: new product strategy, business analysis, development, test marketing, commercialization, new product. Idea generation: customers, salespeople, service providers, anyone with direct customer contact, competitors, supply chain members, research and development division, consultants. Commercialization: commercialization: launch the product! o o o o o. Rely heavily on impersonal information sources o o o o o o o o o: early majority, late majority. Wait to purchase until product has become a necessity and/or peers o o o o o pressure to adopt: laggards o o o o. The more complex the product, the more slowly a product"s rate of o adoption o advertising to persuade consumers o adoption o selling, and emphasis on ease of use. Promotion focused on product awareness and to stimulate primary o o o o o o o demand o: growth stage: profits increase and peak. Intensive personal selling to retailers and wholesalers: maturity stage: sales peak o o o o o o o o.
