What do you mean by "New Product"?
a truly new product
innovated product from the existing one
products which are washed and cleaned to look new
both (a) and (b)
New products are new in "varying degrees"
Which of the following *does not* come under the category of new products
new to the world
new to the product lines
repositioning
cost additions
none of the above
The steps of the new product development process are: 1. ❌ 2. ❌ 3. ❌ 4. ❌ 5. ❌ 6. ❌ 7. ❌ 8. ❌
Choose the challenges of the New product development process
market potential
time
global competition
product development
commercialisation
business analytics
price
distribution
is the continuous and systematic search for new product opportunities.
In screening idea, the companies normally face 2 serious errors which are and and they must try to avoid these.
concept testing means presenting the product concept to target customers, physically or symbolically, and getting their reactions.
In concept and development testing, product concept product idea( product concept, product idea ) are converted into product concept product idea( product concept, product idea ).
choose the methods for Market testing.
test markets
making adjustments to market
market analysis
sales wave research
simulated test marketing
controlled testing marketing
is the process used by customers to determine whether to adopt an innovation or not.
At this stage, innovation is introduced to the consumer but there is no true knowledge of the product to the consumer. What stage of Consumer Adoption is this?
Awareness
Interest
Trial
Adoption
At this stage, consumer is ready to try or test the new products, they practically examine it. They can buy the product or get free samples. What stage of consumer adoption is this?
trial
Evaluation
The stages of Product Adoption process are: 1. Interest Awareness( Interest, Awareness ) 2. interest trial( interest, trial ) 3. trial evaluation( trial, evaluation )4. security trial( security, trial ) 5. adaption adoption( adaption, adoption )
label the graphs with the levels of the Consumer Adoption.