new product & categories anitta clarance

NEW PRODUCT & CATEGORIES

Presented by,

Anitta Clarance

NEW PRODUCT

A new product that opens entirely new market

A product that adopts or replaces an existing product.

A product that significantly broadens the market for an existing product

An old product introduced in a new market

An old product packaged in a different way

An old product marketed in a different way

TYPES OR CATEGORIES OF NEW PRODUCT

Innovative products - really new to the market

New product lines – to allow the firm to enter an existing product. The product is not

new to the world, but new to the market.

Addition to product line – to supplement the firm’s existing product line or simple

line extensions

Improvements and revisions of existing product – current product made better

Repositioned products – existing product target at new market

Cost reduction new product that provide similar performance at lower cost

EXAMPLES

Innovative product - polaroid camera, iPod and iPad, Laser printer, selfie stick

New product lines – P&G’s first shampoo or coffee, Hallmark gift items, AT&T’s Universal credit card

Adding to existing product lines – P&G’s Tide Liquid detergent, Special line extensions (drinks, snack bars, and cereals), Bud Light

Improvements and revisions to existing products - ivory soap and Tide laundry detergents

Repositioning – Arm & Hammer baking soda repositioned as a drain or refrigerator deodorant

NEW PRODUCT CAN BE USED

TO

Increase/defend market share by offering more choice or updating older products

Appeal to new segments

Diversify into new markets

Improve relationship with distributers

Make better use of the organization’s resources

WHY DEVELOP NEW

PRODUCT

To create stars and cash cows for the future

To take advantage of new technology to replace declining product

To maintain or increase the market share of the organisation

To defeat rivals or to keep up with rivals

To fill gap in the market

Thank youAny questions?.......................................