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Related Flashcards
Cards In This Set
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Product Cycle
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A description of the presence or behavior of a product in the marketplace over time.
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 The cassette tape is at which stage of the product cycle? |
This product is at the late stage of the product cycle.
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 The ballpoint pen is at which stage of the product cycle |
The ballpoint pen is at the mature stage of the design cycle.
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 The electric car is at which stage of the product cycle? |
The electric car is at the early stage of the product cycle.
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The process of discovering a principle. A technical advance in a particular field often resulting in a novel product.
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Invention
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The business of putting an invention in the marketplace and making it a success
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Innovation
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Developing an idea into a viable product
Production Marketing and sales Redesign |
The stages of Innovation
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Inventions fail to become Innovations
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Product not marketable
Product not needed No financial support Cost too much |
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Dominant Design
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A product configuration which endures; a particular combination of product features which appears to satisfy the market and survives, without major change, for some time.
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Diffusion into the marketplace
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The wide acceptance (and sales) of a product.
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Market pull
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The initial impetus for the development of a new product is generated by a demand from the market.
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Technology push
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The impetus for a new design starts from a technological development.
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Lone Inventor
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An individual working outside or inside an organisation who is
committed to the invention of a novel product and often becomes
isolated because s/he is engrossed with ideas, which imply change and
are resisted by others.
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Product Champion
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An influential individual, usually working within an organisation,
who develops an enthusiasm for a particular idea or invention and
“champions” it within the organisation.
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Technophile
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Someone who immediately welcomes a technological change.
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