New Products Management Chapter 1 – Flashcards
11 test answers
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repositionings
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products that are retargeted for a new use or application
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cost reductions
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new products that simply replace existing products in the line, providing the customer similar performance but at a lower cost. May be more of a "new product" in terms of design or production than marketing. About 11% of new products
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process innovation
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applies to functions, especially the manufacturing or distribution process, and every new product benefits from this type of innovation.
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product innovation
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applies to the total operation by which a new product is created and marketing and it includes innovation in all of the functional processes
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unique superior product
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the number one reason for success is a
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invention
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refers to the dimension of uniqueness--the form,formulation, function of something. Usually patentable
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innovation
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refers to the overall process whereby an invention is transformed into a commercial product that can be sold profitably
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