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Marketing chapter 7 product development

FTC Requirements for New ProductsEntirely new or changed significantly. May be called ” new” for 6 monthsContinuous InnovationRequires no new learning by consumers. Most common form of innovation.
Ex: new improved shaver ONMARKETING CHAPTER 7 PRODUCT DEVELOPMENT SPECIFICALLY FOR YOUFOR ONLY$13. 90/PAGEOrder NowDynamically Continuous InnovationDisrupts consumers normal routine but does not require totally new learning.
Ex: electronic toothbrush, auto flash on camerasDiscontinuous InnovationRequires new learning and consumption patterns by consumers. Creates major changes in the way we live our lives. Very hard to market. Line Extensiona product closely related to existing products in the line but meets different customer needsProduct ModificationA change in one or more characteristics of the product and the elimination of the original product from the product lineQuality ModificationChanges related to a product’s dependability, durability, etc.. Done by altering materials or production processes. Functional ModificationChanges affecting a product’s function like versatility, effectiveness, convenience, safety, etc… Usually requires a redesign of the productAesthetics’ ModificationChanges to the sensory appeal of a product: as taste, texture, sound, smell, or appearance

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