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DEVELOPING NEW PRODUCTS AND SERVICES C HAPTER 10.

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Presentation on theme: "DEVELOPING NEW PRODUCTS AND SERVICES C HAPTER 10."— Presentation transcript:

1 DEVELOPING NEW PRODUCTS AND SERVICES C HAPTER 10

2 Product Line and Product Mix Classifying Products Type of User  Consumer goods  Business goods Degree of Tangibility Services and New-Product Development THE VARIATIONS OF PRODUCTS

3 Classification of Consumer Goods  Convenience goods  Shopping goods  Specialty goods  Unsought goods Classification of Business Goods  Production Goods  Support Goods  Installations  Accessory Equipment  Supplies  Services CLASSIFYING CONSUMER AND BUSINESS GOODS

4 Classification of consumer goods

5 What is a New Product? Newness Compared with Existing Products Newness in Legal Terms Newness from the Company’s Perspective Newness from the Consumer’s Perspective NEW PRODUCTS AND WHY THEY SUCCEED AND FAIL

6 Consumption effects define newness

7 Marketing Reasons for Failures  Insignificant “point of difference”  Incomplete market and product definition  Too little market attractiveness  Poor execution of the marketing mix  Poor product quality or sensitivity  Bad timing  No economical access to buyers NEW PRODUCTS AND WHY THEY SUCCEED AND FAIL

8 Stages in the new-product process THE NEW-PRODUCT PROCESS

9 New-Product Strategy Development Objectives of the Stage: Identify Markets and Strategic Roles 3M: Cross-Functional Teams, Six Sigma, and Lead Users THE NEW-PRODUCT PROCESS

10 Idea Generation Customer and Supplier Suggestions Employee and Co-Worker Suggestions Research and Development Breakthroughs Competitive Products Screening and Evaluation Internal Approach External Approach THE NEW-PRODUCT PROCESS

11 Market Testing Test Marketing Simulated Test Markets When Test Markets Don’t Work Commercialization The Complexities of Commercialization  The Risks and Uncertainties of the Commercialization Stage Speed as a Factor in New-Product Process THE NEW-PRODUCT PROCESS

12 Marketing information and methods used in the NPD


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