Download - MKTG4 Ch11
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Lamb, Hair, McDaniel
CHAPTER 11
Developing and Managing Products
2010-2011
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New-Product Development Process
New-Product Strategy
Idea Generation
Idea ScreeningBusiness Analysis
DevelopmentTest MarketingCommercialization
New ProductLO2
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Test Marketing
TestMarketing
Online
foodcom.com/signup
The limited introduction of a product
and a marketing program to
determine the reactions of potential
customers in a market situation.
LO2
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Alternatives toTest Marketing
Single-source research using supermarket scanner data
Simulated (laboratory) market testing
Online test marketing
Online
http://www.newproductworks.com
LO2
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Success Factors
NOTE: Supplemental content – not in book.
Factors in SuccessfulNew Products
Match between product and market needs
Different from substitute products
Benefit to large number of people
LO2
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Slide 24: Why New Products Fail
• No discernible benefits • Poor match between features and customer
desires • Overestimation of market size Incorrect
positioning• Price too high or too low• Inadequate distribution • Poor promotion• Inferior product
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Diffusion
The process by which the adoption of an
innovation spreads.
Diffusion
LO4
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Laggards
Late Majority
Early Majority
Early Adopters
Innovators
LO4
Categories of Adopters
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Trialability
Observability
Relative Advantage
Compatibility
Complexity
Online
http://www.electronicgadgetdepot.com
LO4
Product Characteristics and the Rate of Adoption
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Product Life Cycle
Time
Do
llar
s
Profits
SalesIntroductoryStage
GrowthStage
MaturityStage
DeclineStage
0
LO5