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mrktng

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saurav
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6 views

New Text Document

mrktng

Uploaded by

saurav
Copyright
© Attribution Non-Commercial (BY-NC)
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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NEW PRODUCT There are several possible categories of new products.

Each separate category ma yrequire quite a separate marketing programmed to ensure a reasonable probabilit y of marketsuccess.Three considerable categories of new products are:1) Products which are really innovative:Truly unique, e.g., a hour restores, cancer cure products for which there is a r eal used but for which no existing substitutes are considered satisfactory. In t his case we also includes productthat are quite different from existing product but satisfy the same need. 2) Replacement for existing products:That are significantly different from existing goods. Annual model, change auto mobiles and newfashions in clothing, belong to this category. 3) Imitative Product:That are new to a particular company but not new to market, with a me-too product . Perhaps the key criterion as to whether a given product is new is how to inten d market perceives it. If a buyer perceives a product is significantly different from competitive goods in somecharacteristics then it is a new product. Reasons of failure of new product:The new product fails due to certain reasons in market. 1. 2. The idea is good, but market size is overestimated. The product is not well-designed.

3. The product is incorrectly positioned in market, no advertised effective ly and over- priced. 4. 5. 6. The product fails to gain sufficient distribution coverage or support. Development costs are higher than expected. Competitors fight back harder than expected.

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