Professional Documents
Culture Documents
Chap 9
Chap 9
PRINCIPLES OF MARKETING
Chapter
9
New Product Development
and
Product Life-Cycle Strategies
Causes of New Product Failures 9-2
Business Analysis
If No, Eliminate
Product Concept
If Yes, Move to
Product Development
New Product Development Process 9-9
Standard Controlled
Test Market Test Market
Full marketing campaign A few stores that have
in a small number of agreed to carry new
representative cities. products for a fee.
Simulated
Test Market
Test in a simulated
shopping environment
to a sample of
consumers.
9-10
Product Life Cycle
Sales and
Profits ($)
Sales
Profits
Time
Product Introduction Growth Maturity Decline
Develop-
ment
Losses/
Investments ($)
Introduction Stage of the 9-11
PLC
Profits Negative
Create product awareness
Marketing Objectives
and trial
Product Offer a basic product