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The Marketing Mix- PRODUCTS (Reasons New Products Fail (Kotler and…
The Marketing Mix- PRODUCTS
Four Types of Product
Convenience
Shopping
Speciality
Unsought
Product Planning Steps
Concept Testing
Market/Business Analysis
Idea Screening
Product Development
Ideas Generation
Test Marketing
New Product Planning
Commercialisation
Reasons New Products Succeed (Cooper, 2011)
Regular Testing/Obtaining Feedback
Global Product Development
Early Product/Project Definition
Due Diligence
Properly Executed Launch
Cusomter Focused
Speed Counts
Unique Superior Product
Reasons New Products Fail (Kotler and Armstrong, 2011)
Market Size Overestimation
Disregarding Marketing Research
High Product Development Costs
Poor Product Design
Incorrect Positioning
Unsuitable Launch Timing
Inappropriate Pricing
Aggressive Competitor Competition
Poor Promotion