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Unformatted text preview: Product line extension. Development in innovation or technology. True innovation. Revolutionary product 11. Continuous innovation consumers dont need to learn new behaviors. New features 12. Dynamically continuous innovation minor changes in consumer behavior required. Education involved 13. Discontinuous innovation consumers must learn entirely new consumption patterns 14. Reasons why products fail: a. Insignificant point of difference b. Incomplete market and product protocol before product development starts c. Not satisfying consumer needs on critical factors d. Bad timing e. Too little market attractiveness f. Poor product quality g. Poor execution of marketing mix h. No economic access to buyers Stages of new product process New product strategy development Idea genearation Screening and evaluation Business analysis Development Market testing Commercialization...
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- Fall '11