Part19= New Product Adoption

Part19= New Product Adoption - Lecture Part 19 "Drug...

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Lecture Part 19 "Drug therapies are replacing a lot of medicines as we used to know it" George W. Bush, St. Louis, Missouri, Oct. 18, 2000 New Product Adoption and the Diffusion of Innovations I. The Study of the Product Life Cycle A. Needed for Planning! 1. New Products MUST be introduced because old ones go through the _________________________. 2. New Product Development and Product Elimination decision decisions are major part of marketing strategy B. The product life cycle concept 1. Products go through stages: Introduction; Growth; Maturation; Decline 2. Product Life Cycle stages are defined by: Competitive Situation Numbers and variations of products Changes in Distribution Pricing strategies Promotion methods 3. “Product Portfolio Management” uses product life cycle based concepts: 1
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Example: the Boston Consulting Group matrix C. New Product failure --- The rate is huge! May be as high as __________ Percent! 1.
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Part19= New Product Adoption - Lecture Part 19 "Drug...

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