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Chapter 10 Developing New Products and Services

by: Emanuel Nunez

Chapter 10 Developing New Products and Services Mar 250

Marketplace > Pace University > Marketing > Mar 250 > Chapter 10 Developing New Products and Services
Emanuel Nunez

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About this Document

These notes are from class on 3/3/2016 on developing new products and services in chapter 10.
Principles of Marketing
Professor Topol
Class Notes
Marketing, principles of marketing
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This 2 page Class Notes was uploaded by Emanuel Nunez on Thursday March 3, 2016. The Class Notes belongs to Mar 250 at Pace University taught by Professor Topol in Spring 2016. Since its upload, it has received 16 views. For similar materials see Principles of Marketing in Marketing at Pace University.


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Date Created: 03/03/16
Chapter 10 Developing New Products and Services Marketing Newness: The Consumer’s Perspective  Continuous Innovation  Dynamically Continuous Innovation  Discontinuous Innovation Newness: The Organization’s Perspective: Product Line Extension and Jump-In Innovation Launching a Commercially Duccessful New Products  Products fail due to bad decisions  Insignificant Point of Difference  Horrible timing  Not satisfying customer needs on imperative factors  Incomplete market and product protocol before product development starts Certain products that failed are: Bic Disposable Underwear, Frito-Lay Lemonade, Life Savers Soda A notable example is Salvo Detergent Tablets. The product failed because they were too uncomfortable to put in washing machines. It was too big that you’d have to crush it to use it. So the product failed since the holes in washing machines were small which made the product annoying to use. Marketing Reasons for New-Product Failures  No economical access to buyers  Poor product quality  Poor execution of the Marketing Mix  Too little market attractiveness- milk that used to be in vending machines in Paris is another example and it is presently in India.  Not listening to the “voice” or opinions of the customers and accumulating feedback from them.  Skipping New-Product Process Stages  Marketing a Product too quickly  Not learning from past failures (it is important to learn your history and past mistakes) The 7 Stages in the New-Product Process Leading to Success 1. New-product strategy development 2. Idea Generation 3. Screening and Evaluation 4. Business Analysis 5. Development 6. Market testing 7. Commercialization These are the stages of Commercialized Products


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