Stanley J. Shapiro
Kenneth B. Wong,
Queens School of Business
William D. Perreault,
University of North Carolina
E. Jerome McCarthy,
Michigan State University
| Category managers | Have responsibility not only for demand stimulation but also for supply-side activities.
(See Refer to page(s) 312)
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| Concept testing | Getting reactions from customers about how well a new product idea fits their needs.
(See Refer to page(s) 309)
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| Fad | An idea that is fashionable only to certain groups who are enthusiastic about it-but these groups are so fickle that a fad is even more short-lived than a regular fashion.
(See Refer to page(s) 297)
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| Fashion | Currently accepted or popular style.
(See Refer to page(s) 297)
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| Market growth | A stage of the product life cycle when industry sales grow fast, and industry profits rise-but then start falling.
(See Refer to page(s) 293)
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| Market introduction | A stage of the product life cycle when sales are low as a new idea is first introduced to a market.
(See Refer to page(s) 289)
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| Market maturity | A stage of the product life cycle when industry sales level off and competition gets tougher.
(See Refer to page(s) 294)
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| New product | A product that is new in any way for the company concerned.
(See Refer to page(s) 304)
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| Product liability | The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.
(See Refer to page(s) 308)
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| Product life cycle | The stages a new product idea goes through from beginning to end.
(See Refer to page(s) 289)
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| Product managers | Manage specific products, often taking over the jobs formerly handled by an advertising manager-sometimes called brand managers.
(See Refer to page(s) 311)
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| Sales decline | A stage of the product life cycle when new products replace the old.
(See Refer to page(s) 294)
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| Screening | Evaluating the new ideas with the product-market screening criteria.
(See Refer to page(s) 307)
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2002 McGraw-Hill Higher Education