F10+MKTG+3104+Student+10.+New+Product+Strategy+ppt

F10+MKTG+3104+Student+10.+New+Product+Strategy+ppt - MKTG...

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MKTG 3104 New Product Strategy
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CLASS OBJECTIVES 1. Evaluate the importance and types of innovations 2. Examine the influences on rate of diffusion and common reasons for new product failure 3. Use the adoption process model as a diagnostic tool
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TYPES OF INNOVATION What is really new ? Does it change behavior? Continuous Dynamically Discontinuous Continuous (no real change (significant change in customer behavior) in customer behavior) Oreo cakesters Latisse Internet
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Why do new products fail? Insignificant point of difference *** Failure to define product benefits and target market The Segway human transporter Overestimated market attractiveness Poor product quality Bad timing No economical access to buyers Grocery items available 100,000 Average # in grocery stores 30,000 New each year 10,000 - 15,000
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DIFFUSION OF INNOVATION The spread of innovations through a market or culture. What influences the speed of new product
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This note was uploaded on 03/02/2012 for the course MKTG 3104 taught by Professor Ebcoupey during the Fall '08 term at Virginia Tech.

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F10+MKTG+3104+Student+10.+New+Product+Strategy+ppt - MKTG...

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