New Product Development Flashcards Preview

jeremy harmon > New Product Development > Flashcards

Flashcards in New Product Development Deck (31):
1

Primary Research

New original information

2

Qualitative

Not numbers

3

Advertising Specialties

anything with the advertisers name given as a gift to consumer

Jack daniels shot glass when purchasing jack Daniel bottle

4

Product Line Filling

Adding more options to the product line

5

What 3 things does Sweet Spot combine

Human Values
Technology
Business

6

What are 3 examples of Brand Identity

Name
Logo
Tag line

7

Product Mix Depth

Number of versions of each product

8

What does AIDA stand for?

Attention
Interest
Desire
Action

9

What is an example of Product Mix Depth

Different flavors of COKE

10

Sales Promotion

short term incentive to encourage purchase of product

11

Point of Purchase Promotion

Promotion that happens when product is purchased

12

Quantitative

Numbers

13

What 6 things are included in the Introductory Stage?

high failure rates
frequent modifications
limited distribution
personal selling
high advertising costs
high personal selling costs

14

What 4 things does Design Thinking include

Human centered
Collaborative
Experimental
Optimistic

15

Non Random Sample

Samples are selected by convenience

16

What 2 things does Product mix width do?

Lowers risk
capitalizes on established reputation

17

Brand Equity = ------------- + --------------

Brand Awareness + Brand Image

18

Product mix width

Number of product lines

19

Perishable

Cannot be stored or cannot make up for lost time

20

Random Samples

Every sample as the equal chance of being selected

21

What are 4 ways how services differ from goods?

Intangible
Inseparable
Variable
Perishable

22

Rebates

Cash Refund

23

Brand Equity =

Total Earnings -Earnings from Tangible Assets

24

Premium

Buy one get one free

25

Secondary Research

Using existing information

26

What are the 3 types of product modifications

Quality
Functional
Style

27

Product item

A version of a product that is distinct

28

What are the adopter categories

Innovators
Early adopters
Early majority
Late Majority
Laggers

29

Brand Equity = PBP (-) PG x TUS

Price of Branded Product - Price of Generic x Total Units sold

30

Representative Sampling

Reflects everyone's view

31

Value Proposition

Benefits the customer will receive

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