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Developing and Managing Products Chapter 10 Version 6e Developing and Managing Products Learning Objectives Learning Objectives (continued) Learning Objective New Product Categories of New Products Learning Objective Successful New-Product Development Process New-Product Development Process Idea Generation Brainstorming Idea Screening Concept Test Business Analysis Development Simultaneous Product Development Test Marketing Choosing a Test Market Alternatives to Test Marketing Single-source research using supermarket scanner data Simulated (laboratory) market testing Commercialization Learning Objective Diffusion Categories of Adopters Categories of Adopters Product Characteristics and the Rate of Adoption Marketing Implications of the Adoption Process Learning Objective Product Life Cycle Product Life Cycle Extending the PLC Change product Change product use Change product image Change product positioning Introductory Stage High failure rates Little competition Frequent product modification Limited distribution High marketing and production costs Negative profits Promotion focuses on awareness and information Intensive personal selling to channels Growth Stage Increasing rate of sales Entrance of competitors Market consolidation Initial healthy profits Promotion emphasizes brand ads Goal is wider distribution Prices normally fall Development costs are recovered Maturity Stage Declining sales growth Saturated markets Extending product line Stylistic product changes Heavy promotions to dealers and consumers Marginal competitors drop out Prices and profits fall Niche marketers emerge Decline Stage Long-run drop in sales Large inventories of unsold items Elimination of all nonessential marketing expenses Marketing Strategies for PLC Diffusion Process and PLC Curve 4 Offered in more sizes, flavors, options Evaluation only. Created with Aspose.Slides for .NET 3.5 Client Profile 5.2.0.0. Copyright 2004-2011 Aspose Pty Ltd. 4 Many consumer products are in
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