Chapter 11 - Day 19 student

Chapter 11 - Day 19 student - CHAPTER 11 Developing and...

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CHAPTER 11 Developing and Managing  Products © imagesource/photolibrary
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LO 1 Explain the importance of developing new products  and describe the six categories of new products LO 2 Explain the steps in the new-product development  process LO 3 Discuss global issues in new-product development LO 4 Explain the diffusion process through which new  products are adopted LO 5 Explain the concept of product life cycles Learning Outcomes
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New Product A product new to the world,  new to the market,  new to the producer,  new to the seller,  or some combination of these. New Product The average consumer goods company introduces 70 to 80 new products per year. PepsiCo—over 200 products in a recent year, and Kellogg’s over 100.
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Categories of New Products New-to-the-World New Product Lines Product Line Additions Improvements or Revisions Repositioned Products Lower-Priced Products Smallest  Category Most Products www.good.is/post/innovative-reusable-replenish-spray-bottle-could-disrupt-home-cleani  
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Beyond the Book Repositioned Product SOURCE:  James B. Kelleher, “Harley-Davidson fights changing market with appeals to blacks, Hispanics,”  http://www.targetmarketnews.com/storyid03160601A.htm (March 15, 2006) Once an icon for the counterculture, the Harley-Davidson motorcycle  company definitely has its eye on the future. With an aging target  market, Harley needed to reposition itself for a new generation of  riders. It recently launched a “Riders Edge Program”, a motorcycling  safety course, which targets new consumers.  In the first year, Harley- Davidson had more than  4,000 riders go through  the program, 45 percent  of whom were female  and nearly half were  under 35.  
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The New-Product Development Process Long-term commitment Company-specific approach Capitalize on experience Establish an environment New Product Success Factors needed to support innovation and new-product development driven by corporate strategy and objectives to achieve and maintain competitive advantage conducive to achieving company-specific new- product and corporate objectives
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New-Product  Development Process New-Product Strategy Idea Generation Idea Screening Business Analysis Development Test Marketing Commercialization New Product http://www.nytimes.com/2010/08/04/business/global/04pedal.html?_r=1
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a plan that links the new-product  development process with the  objectives of : the marketing department,  the business unit, and  the corporation.
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Chapter 11 - Day 19 student - CHAPTER 11 Developing and...

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