Topic 11: New Product Development

Why do firms develop new products      

Where do new ideas come from

New product categories

Competitive Positions in marketplace    

4 Ways to Test if your product will succeed        

Factors of Accepting New Products         

Diffusion of Innovation

How do firms develop new products      

Concept testing – Prototype Alpha, beta test      

Types of test markets    

when to test market and when not to    

Product Launch Commercialization         

Promotion Place price of new products  

Evaluate the new product          

First Mover Advantages

Product Life Cycle          

Why products fail