Introducing New Market Offerings Marketing Management, 13 th ed 20
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-2 Categories of New Products New-to-the-world Cost reductions New product lines Additions Improvements Repositionings
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-3 Factors That Limit New Product Development Shortage of ideas Fragmented markets Social and governmental constraints Cost of development Capital shortages Faster required development time Shorter product life cycles
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-4 Figure 20.2 The New Product Development Decision Process
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-5 Consumer Goods Market Testing Sales-Wave Research Simulated Test Marketing Controlled Test Marketing Test Markets
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-6 Test Market Decisions How many test cities? Which cities? Length of test? What information to collect? What action to take?
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-7 What is Adoption? Adoption is an individual’s decision to become a regular user of a product.
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-8 Stages in the Adoption Process Awareness Interest Evaluation Trial Adoption
Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall 20-9 Figure 20.6 Adopter Categorization