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* Test marketing introduces the offering to a limited geographical area prior to a national launch. Premarket tests are conducted by firms before they actually bring a product or service to market to determine how many customers will try and then continue to use the product or service according to a small group of potential consumers. Glossary 11-* The product life cycle defines the stages that new products move through as they enter, get established in, and ultimately leave the marketplace and thereby offers marketers a starting point for their strategy planning. Glossary 11-* A prototype is the first physical form or service description of a new product, still in rough or tentative form, that has the same properties as a new product but is produced through different manufacturing processes—sometimes even crafted individually. Glossary 11-* Reverse engineering involves taking apart a product, analyzing it, and creating an improved product that does not infringe on the competitors’ patents, if any exist. Glossary 11-* Test marketing introduces the offering to a limited geographical area prior to a national launch. Glossary 11-* * Chapter 11 – Developing New Products These questions are the learning objectives guiding the chapter and will be explored in more detail in the following slides. * A new product can be anything from a slight redesign to new-to-the-world offerings. Ask students: What is an example of a slightly redesigned product? What about a new-to-the-world product? Ask students: Think of a new product that interested you as a consumer. Did this new product alter your opinion of the firm that offered it? Group activity: Have groups pick one product. Ask them; what group of consumers would purchase this product? Why? Example answer: TiVo has been around for about 10 years, it is probably in the early or late majority stages. Cable television, on the other hand, is now appealing to laggards; whereas some new cell phones are appealing to innovat
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