Kalan Lecture 15

Kalan Lecture 15 - K alan Lecture 15 A Product Line The...

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Kalan Lecture 15 3/23/2011 A. Product Line: The total offerings from a company to satisfy a particular need. B. Product Mix: Everything a company offers is their product mix. C. Innovation: A product that consumers perceive to be new and different from existing products. D. Federal Trade Commission definition of new: Their job is regulate commmerce a. A new product must be entirely new or changed significantly different. b. You may only say new for six months. E. Marketing definition of new a. The perception of change and the perception of improvement that it generates to the consumer. F. The new concept is almost obsolete before what?? The cost of having new products keeps growing. Without new items or new services, companies tend to die. G. Types of innovations a. Continuous innovations: Modifications of existing products that sets a brand apart from other s but does not require significant new learning. i. Eg. Cheerios, Honey nut Cheerios, yogurt Cheerios, apple cheerios. ii. Coke and Pepsi types b. Dynamically continuous innovation: A change in an existing product that requires moderate learning or moderate behavior change. i. E.g. Many different types of cd/cassette tapes or mediums on which to listen to music.
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ii. Convergence: This is the coming together of two or more technologies to create a new system with greater benefits than its parts. c.
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This note was uploaded on 09/16/2011 for the course MARKETING 301 taught by Professor Yeniyurt during the Spring '08 term at Rutgers.

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Kalan Lecture 15 - K alan Lecture 15 A Product Line The...

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