Prepared by a marketing lecturer, designed for university-level students
For a new product to win initial trials and then ongoing repeat business, it needs to bring something new to the marketplace. Potential customers need an incentive – such as additional benefits … Read more...
In the classification of new products, product repositioning is considered to be a new product task. There are a numerous challenges and benefits associated with product repositioning as discussed in the following article. Please refer to a separate … Read more...
Products are frequently improved by companies. There are various pressures upon a company to do so, particularly from competitors, changing customer needs and technology improvements. However, there are an array of benefits and challenges involved in making the decision … Read more...
Expanding a firm’s product range through product line extension is a very common strategic decision. Along with product improvements, product line extensions form the majority of new product launches for established firms.
Please note that the product line extension … Read more...
Probably a good example of a product repositioning exercise is Mother Energy drink in Australia, which is a Coca-Cola brand. When it was first introduced into the marketplace, driven by Coca-Cola’s goals be a market leader in the energy … Read more...
A new category product is one of several classifications of new products (please see separate article). Other classifications of new products include: new-to-the-world product, product line extensions, product improvements and product repositioning.
When a firm introduces a new … Read more...
New-to-the-world products are one of several classifications of new products (please see separate article). Other classifications of new products include: new categories, product line extensions, product improvements and product repositioning.
As suggested by the name, a new-to-the-world product is … Read more...
There are several accepted categories for classifying new products within a company, these are:
When we … Read more...
Providing a value proposition is a central part of a firm’s offering in the marketplace. A value proposition helps differentiate firms and brands by having something unique about their “offering”.
In marketing … Read more...