MKT20024 Exam Revision

Name 4 product components

Demand ecology

Classical (stage gate) approach to new product management

The Agile approach to new product management

New-to-the-world

New-to-the-firm products

Additions to existing product lines

Improvements and revisions to existing products

Repositionings

Cost reductions

There are five phases in the new product process:

Product Innovation Charter (PIC)

Concept generation
Benefit/Need:

Concept generation
Technology:

Concept generation
Form:

ATAR Model

ATAR Model
Awareness

ATAR Model
Trial:

ATAR Model
Availability:

ATAR Model
Retrial:

Principles of universal design
Equitable use:

Principles of universal design
Flexibility in use:

Principles of universal design
Simple and intuitive to use:

Principles of universal design
Perceptible information:

Principles of universal design
Low physical effort:

Principles of universal design
Size and space for approach and use:

Types of demand sought

Product positioning

The target market decision