Lamb, Hair, McDaniel 11
Lamb, Hair, McDaniel
MKTG
11
CHAPTER
Designed by
Amy McGuire, B-books, Ltd.
Developing and
Managing Products
Prepared by
Dana Freeman, B-books, Ltd.
LEARNING OUTCOMES
LO1
Explain the importance of developing
new products and describe the six
categories of new products
LO2
Explain the steps in the new-product
development process
LO3
Discuss global issues in new-product
development
LEARNING OUTCOMES
LO4
Explain the diffusion process through
which new products are adopted
LO5
Explain the concept of product life
cycles
THE IMPORTANCE OF NEW PRODUCTS
Explain the importance
of developing new
products and describe
the six categories of
new products
New Product
A product new to the
world, the market, the
producer, the seller, or
some combination of
these.
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