F10 MKTG 3104 Student 10. New Product Strategy

F10 MKTG 3104 Student 10. New Product Strategy - MKTG 3104...

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Click to edit Master subtitle style 8/22/11 MKTG 3104 New Product Strategy
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8/22/11 CLASS OBJECTIVES 1. Evaluate the importance and types of innovations 1. Examine the influences on rate of diffusion and common reasons for new product failure 3. Evaluate the adoption process model as a diagnostic tool
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8/22/11 TYPES OF INNOVATION What is really new ? Continuous Dynamically Discontinuous Continuous (no real change (significant change in customer behavior) in customer behavior)
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8/22/11 Why do new products fail? Insignificant point of difference *** Failure to define product benefits and target market Overestimated market attractiveness (bottled dog water) Poor product quality (corfam shoes) Bad timing (blu-ray) No economical access to buyers
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DIFFUSION OF INNOVATION The spread of innovations through a market or culture. What influences the speed of new product diffusion? Relative advantage
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This note was uploaded on 08/22/2011 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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F10 MKTG 3104 Student 10. New Product Strategy - MKTG 3104...

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