product development Flashcards
1
Q
innovation bell curve
A
innovators -> early adopters -> early majority -> late majority -> laggards
2
Q
factors affecting adoption rate
A
Relative advantage Observability Trialability Compatibility Complexity
3
Q
product life cycle
A
introduction -> growth -> maturity -> decline
4
Q
introduction stage
A
high cost, negative profits, little competition, Promotion focuses on raising awareness and providing
information
5
Q
growth stage
A
healthy profits, lower prices, some competition
6
Q
maturity stage
A
sales increase at a decreasing rate; saturated markets; prices and profits fall
7
Q
decline stage
A
products may be eliminated or just have their marketing costs eliminated
