New-Product Development and Product Life-Cycle Strategies
New-Product Development and Product Life-Cycle Strategies
New-Product Development and Product Life-Cycle Strategies
Learning Objectives
New Product Development Different stages in PLC Strategies to be adopted for various
stages
8-2
New Products:
Original Products
Patents
Licenses
Improvements
Modifications
8-3
New-Product Failures
Only 10% of new products are still on the
market and profitable after 3 years. Failure rate for industrial products is as high as 30%. Why?
Overestimation of market size Design problems Incorrectly positioned, priced, or advertised Pushed despite poor marketing research findings Development costs Competition
8-4
8-5
Idea Generation
Company Employees
Customers Competitors
Distributors Suppliers
8-6
8-7
Introduction
Growth
Maturity
Costs
Profits Marketing Objectives
Product
Price Distribution
Promotion
Product
Price Distribution Promotion