BUS340_Spring10_New Product Development9

BUS340_Spring10_New Product Development9 - Marketing...

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Marketing Management BUS 340 New Product Development
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Product Line Company A B C D E F A1, A2, A3
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The Product Life-Cycle
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New Product Development Strategies New products can be obtained via acquisition or new-product development. New product development is very expensive and very risky. 70% to 90% of new consumer products fail within 12 months. Products fail for many reasons.
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New Product Failures Why do new products fail? Overestimation of market size Design problems Incorrectly positioned, priced, or advertised Pushed despite poor marketing research findings Excessive development costs Competitive reaction
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Stages in New Product Development
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Idea Generation (Brainstorming) Internal sources: Company employees at all levels External sources: Customers Competitors Distributors Suppliers Outsourcing
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Idea Screening Process used to spot good ideas and drop poor ones. Executives provide a description of the
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This note was uploaded on 11/21/2011 for the course BUS 340 taught by Professor Manishtripathi during the Spring '10 term at Emory.

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BUS340_Spring10_New Product Development9 - Marketing...

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