Acquisition
original products
Developing new products and
managing the product life cycle
product improvements
New product development product modif ications
new brands developed
New product development f rom f irm's own research & development
strategy
Overestimation of market size
Poor design
Incorrect positioning
Wrong timing
New product f ailure (9 reasons) Priced too high
Inef f ective promotion
Management inf luence
High development costs
Competition
Internal sources
1 Idea generation
External sources
2 Idea screening
Product idea
Product concept
3 Concept development and testing
Product image
Concept testing
Part 1
+ Description of target market
+ Product positioning, sales, market share, prof ir goals
The new product development
process (8 stages)
4 Marketing strategy development Part 2: Price distribution and budget
Part 3: Long-term sales, prof it goals, marketing mix
strategy
5 Business analysis
6 Product development
Standard test markets
7 T est marketing Controlled test markets
Simulated test markets
8 Commercialisation
Customer-centered
Sequential
Managing new product
development
T eam-based
Systematic
Introduction stage
Growth stage
Product life-cycle strategies
Maturity stage
Decline stage
Product decisions and social responsibility
Additional product and service considerations
International product and service marketing