Below are this chapter's featured key terms. The textbook's full glossary is also available for online searching.
 

business analysis	Involves specifying the features of the product and the marketing strategy needed to commercialize it and making necessary financial projections. (See page(s) See page 285 in your textbook.)
business goods	Products that assist directly or indirectly in providing products for resale (also known as B2B goods, industrial goods, or organizational goods). (See page(s) See page 271 in your textbook.)
commercialization	Positioning and launching a new product in full-scale production and sales. (See page(s) See page 288 in your textbook.)
consumer goods	Products purchased by the ultimate consumer. (See page(s) See page 271 in your textbook.)
convenience goods	Items that the consumer purchases frequently and with a minumum of shopping effort. (See page(s) See page 273 in your textbook.)
development	Turning the idea on paper into a prototype. (See page(s) See page 285 in your textbook.)
failure fee	A penalty payment made by a manufacturer to compensate the retailer for sales its valuable shelf space never made. (See page(s) See page 288 in your textbook.)
idea generation	Developing a pool of concepts as candidates for new products. (See page(s) See page 282 in your textbook.)
market testing	Exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy. (See page(s) See page 287 in your textbook.)
new-product process	The sequence of activities a firm uses to identify business opportunities and convert them to a salable good or service. (See page(s) See page 281 in your textbook.)
new-product strategy development	Defining the role for a new product in terms of the firm's overall corporate objectives. (See page(s) See page 281 in your textbook.)
product	A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for money or some other unit of value. (See page(s) See page 270 in your textbook.)
product line	A group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same outlets, or fall within a given price range. (See page(s) See page 270 in your textbook.)
product mix	The number of product lines offered by a company. (See page(s) See page 270 in your textbook.)
production goods	Items used in the manufacturing process that become part of the final product. (See page(s) See page 274 in your textbook.)
protocol	A statement that, before product development begins, identifies (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) what the product will be and do. (See page(s) See page 278 in your textbook.)
screening and evaluation	The third stage of the new-product process, which involves internal and external evaluations of the new-product ideas to eliminate those that warrant no further effort. (See page(s) See page 284 in your textbook.)
shopping goods	Items for which the consumer compares several alternatives on criteria such as price, quality, or style. (See page(s) See page 273 in your textbook.)
Six Sigma	A means to "delight the customer" by achieving quality through a highly disciplined process to focus on developing and delivering near-perfect products and services. (See page(s) See page 282 in your textbook.)
slotting fee	The payment a manufacturer makes to place a new item on a retailer's shelf. (See page(s) See page 288 in your textbook.)
specialty goods	Items that a consumer makes a special effort to search out and buy. (See page(s) See page 273 in your textbook.)
support goods	Items used to assist in producing other goods and services. (See page(s) See page 274 in your textbook.)
unsought goods	Items that the consumer either does not know about or knows about but does not initially want. (See page(s) See page 273 in your textbook.)