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10.1 New Products from a Customer’s Perspective
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define a new product. 2 Explain “newness” from the perspective of the customer. 3 Explain the risks and rewards of developing new products. New Product Defined You’ve probably...
What Do Marketers Do?
Using an online networking platform—for example, LinkedIn—network and connect with someone in product development. Explain that you have a college project and that you’d like to interview them. There are hundreds of product development professionals, and you w...
11.4 Ethical Considerations in Providing Services
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe the ethical considerations in providing services to customers. 2 Discuss how ethics contribute to customer satisfaction. How Do Ethics Contribute to Customer Satisfacti...
11.3 The Gap Model of Service Quality
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe the Gap Model of Service Quality. 2 List and describe the dimensions of service quality. Dimensions of Service Quality While we’re still on the subject of customer sat...
11.2 The Service-Profit Chain Model and the Service Marketing Triangle
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define and explain the purpose of the service-profit chain model. 2 Describe the steps in the service-profit chain model. 3 Explain the Services Marketing Triangle. Definition ...
11.1 Classification of Services
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Define services. 2 List the classification of services. 3 Describe the characteristics of services. Services Defined You may have heard that the United States’ economy is prim...
In the Spotlight
Figure 11.1 Services are intangible, nonphysical products, such as childcare, and they make up the majority of the US GDP. (credit: “DSC_1551” by Josh Ward/flickr, CC BY 2.0) Chapter Outline 11.1 Classification of Services 11.2 The Service-Profi...
References
1. “December Holiday Campaigns That Caught Our Eye,” AgencyChina, January 9, 2018, https://agencychina.com/blog/december-holiday-campaigns-that-caught-our-eye/. 2. “12 Most Successful Shark Tank Products,” Shark Tank Tales, accessed January ...
Closing Company Case
Maintaining a Competitive Edge with New Offerings—Ember Every morning, millions of Americans wake up and prepare a cup of coffee. But as they sit down to drink it, the deluge of interruptions begins. Once the interruptions begin, that delicious dark roast o...
Building Your Personal Brand
Review this Ascent article by Aaron Weber and pay attention to his explanation of the 5 Ps for building your personal brand. Write two paragraphs on what you feel your personal brand is today. Is it what you want it to be? Interview three colleagues, classmate...
10.2 Stages of the New Product Development Process
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Identify the stages of the new product development process. 2 Define and describe the important factors of each stage of development. The New Product Development Process The ne...
Critical Thinking Exercises
1. From a consumer perspective, what motivates you to try a new product? What new products have you tried in the last year? Did you continue to purchase them after the initial trial? 2. Idea generation is the first step in new product develo...
Applied Marketing Knowledge: Discussion Questions
1. Explain the differences in: Continuous innovation Dynamically continuous innovation Discontinuous innovation 2. List the stages of new product development. 3. Consider new product adopter categories and answer the ...
Key Terms
additions to existing product lines product line extensions that involve changes to styles or flavors business analysis the fifth step in the new product development process, in which a potential new product is evaluated commercialization the eighth step ...
Chapter Summary
In this chapter we discussed the different forms of innovation as applied to new product development. The rewards of this development can include means to target a new market, to increase market share, and to increase revenue streams. Included in the risks are...
10.6 Ethical Considerations in New Product Development
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Discuss violations of patents, trademarks, and/or copyrights. 2 Describe ways to exercise due care in product development. Violations of Patents, Trademarks, and/or Copyrights ...
10.5 Stages in the Consumer Adoption Process for New Products
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Describe the stages in the adoption process for new products. 2 Identify and define new product adopter categories. Stages in the Adoption Process Consumers go through five sta...
10.4 Factors Contributing to the Success or Failure of New Products
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Identify and discuss factors that contribute to the success of a new product. 2 Identify and discuss factors that contribute to the failure of a new product. What Factors Contri...
10.3 The Use of Metrics in Evaluating New Products
LEARNING OUTCOMES By the end of this section, you will be able to: 1 Explain the importance of establishing new product metrics. 2 Describe metrics used to evaluate the success or failure of new products. The Importance of Establishing New Produc...
Chapter Summary
In this chapter, we explore services. One of the first concepts is that services are intangible, meaning that they cannot be felt, tasted, heard, or smelled before purchase. Customer satisfaction is dependent upon many factors, the first one being the communic...