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New Products / Service Development - Coggle Diagram
New Products / Service Development
Why Firms Introduce New Products?
Needs & Wants Changes
Mature of Product
End of Product Life Cycle
Marketing Environmental Changes
Competitors
Product Problems
Classification of New Products
New world Products
New Firm Products
Addition to Existing Product Lines
Improve & Revising Existing Products
Repositioning
Cost Reduction
NPD Process
Ideas Generating
Ideas Evaluating
Market Strategy
Business Analysis
Product Development
Test Marketing
Commercialization
Interaction with Employee
Interaction with Customers
Studying Competitors
Adopting Creative Technique
Idea Screening
Develop criteria
Product meet a need
Offer superior value
Distinctly advertised or promoted
Company Know Necessary
New Product delivered expected Sales Volume, Sales Growth & Profit
Concept Testing
Finding Poor Concept so it can be eliminating
First Bundle , Estimate sales, Trial rate, & sense of market shares
Concept Developing
Product idea
Who use?
Benefit
When Consume?