Chap011 - CHAPTER DEVELOPING NEW PRODUCTS 11 11-2 LEARNING...

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Unformatted text preview: CHAPTER DEVELOPING NEW PRODUCTS 11 11-2 LEARNING OBJECTIVES Developing New Products LO1 Identify the reasons firms innovate. LO2 Describe the different groups of adopters articulated by the diffusion of innovation theory. LO3 Identify the factors that determine how fast innovation diffuses. LO4 Explain the various stages involved in developing a new product or service. LO5 Describe the various product life cycle concepts. 11-3 Microsoft 11-4 Innovation and Value 11-5 1. What are the reasons why firms develop new products? Check Yourself 11-6 Diffusion of Innovation 11-7 New Product Introductions Pioneers radically change competition and consumer preferences. Pioneers radically change competition and consumer preferences. Derrick Donnelly, Blackbag Technologies 11-8 Recycled Organic Clothes 11-9 Using the Diffusion of Innovation Theory 11-10 1. What are the five groups depicted in the diffusion of innovation curve? 2. What factors enhance the diffusion of a good or service? Check Yourself 11-11 How Firms Develop New Products 11-12 Idea Generation 11-13 Internal R&D High product development costs Often the source of technological products Often the source of breakthrough products Crystal Pepsi Commercial Courtesy Black & Decker Corporation 11-14 R&D Consortia Lower costs and risks; firms join together Form research consortiums Benefits spread to all firms Example, pharmaceutical industry research John A Rizzo/Getty Images 11-15 Licensing Firms purchase the rights to technology or ideas from other research-intensive firms University research centers also often provide such licenses Chris Ratcliffe/Bloomberg via Getty Images 11-16...
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Chap011 - CHAPTER DEVELOPING NEW PRODUCTS 11 11-2 LEARNING...

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