MKTG 2201 Chapter Notes - Chapter 8: New Product Development, Impulse Purchase, Test Market
16 Dec 2016
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Marketers view products as a bundle of attributes that includes the packaging, brand name, benefits, and supporting features in addition to a physical good. Classification of products convenience product: a consumer good or service that is usually low-priced, widely available, and purchased frequently with a minimum of comparison and effort. Convergence: the coming together of two or more technologies to create new systems that provide greater benefit than the original technologies alone. discontinuous innovation: a totally new product that creates major changes in the way we live. Convergence: the coming together of two or more technologies to create a new. The process of innovation innovation: a product that consumers perceive to be new and different from existing products. New product development (npd): the phases by which firms develop new products including idea generation, product concept development and screening, marketing strategy development, business analysis, technical development, test marketing, and commercialization.
