{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Chapter 11 notes - Chapter 11 Product Innovation Management...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 11 Product Innovation & Management Product mix - the collective entirety of product lines and products a company offers Product planning - outlines the focus given to core businesses (current products in current segments), market development (new segments for current products), product development (new products for current segments), or diversification (products totally new to the company for new segments). Market development - occurs when existing products are offered to new segments. Example: Ralph Lauren extended to include big and tall customers. Product development - occurs when companies make new products for existing market segments. Example: Pizza Hut’s Tuscani Pastas. Line extension - developing new products that are closely related to existing ones Diversification - occurs when new products are introduced into new market segments. Example: Nintendo released the Wii. Types of product innovation Continuous innovation - a minor change to a familiar product, such as a new style or model that can be easily adopted without significant alterations in consumer behavior. Example: Campbell’s Soup at Hand. Dynamically continuous innovation - endows a familiar product with additional features and benefits that require or permit consumers to alter some aspect of their behavior.
Image of page 1

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

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern