MM1 - Lecture 15 - Oct 20 2011 - OnCourse

MM1 - Lecture 15 - Oct 20 2011 - OnCourse - &ProductLife...

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon
Cycle Marketing Management 1 October 20, 2011
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Agenda n Understand differences between incremental and radical new product ideas n Highlight why new products succeed or fail and what can firms do about failure n Discuss Product Life-Cycle (PLC) and marketing strategies that correspond to different stages of the PLC
Background image of page 2
New-Product Development The development of original products, product improvements, product modifications, and new brands through firm’s own or acquired R&D efforts.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
New products: Radical vs. Incremental Radical innovation Incremental Innovation
Background image of page 4
Where do new product ideas come from?
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
New Product – Just a Great Idea, or More?
Background image of page 6
n Stage 1: Idea Generation (fuzzy front end) q The systematic search for new product ideas q Internal sources: brainstorming, employees from all q External sources: customers, competitors, distributors, suppliers, and others Stages of the New Product Development Process
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Stages of the New Product Development Process n Stage 2: Idea Screening q The purpose is to identify good ideas and drop poor ones to avoid spending any more money on developing them q Criteria used: n Usefulness to consumers n Good fit with company objectives and strategies n Have the resources n Add value
Background image of page 8
Image of page 9
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 23

MM1 - Lecture 15 - Oct 20 2011 - OnCourse - &ProductLife...

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online