Mktg 3340 exam 2 stuvia - Study guides, Class notes & Summaries

how does idea generation play a role in the new product development process? - ANSWER-new product development process: strong new product planning, systematic and customer driven for finding and growing new products STEPS: 1. idea generation 2. idea screening 3. concept development and testing 4. marketing strategy development 5. business analysis 6. product development 7. test marketing 8. commercialization idea generation: starts new product development, the systematic search for...

what is marketing? - ANSWER-the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? - ANSWER-1. discover (assess) the needs and wants of prospective customers 2. satisfy these needs & wants through EXCHANGE (each are better off after exchange) what are the 4 requirements for marketing to occur? - ANSWER-1. two or more parties with unsatisfied needs 2. desire and ability to satisfy those needs 3. a way for ...

How does idea generation play a role in the new product development process? - ANSWER-Crowd Sourcing, think of ideas, find a good idea, bring it to life Detailed understanding of Jennifer Pritchard and John Eckhardt's presentation content - ANSWER-Meet needs of airline passengers by creating an experience. AA: Understand the culture and religion SNAP: performance-based marketing: PI-personal identification. 1st person- email and phone #, 2nd person device ID and advertisement ID, 3rd- I...