Why New Products Fail

  Why new products fail No product point-of-difference 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 or some form of variety – to be persuaded to try and buy a new … Read more…

Benefits of product repositioning

  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 article for the challenges of repositioning. What is product repositioning? Product repositioning is changing the overall … Read more…

Potential benefits of a product improvement

  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 whether or not to improve an existing product in the marketplace. Please note that a … Read more…

Benefits of a product line extension

  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 is just one of the main classifications of a new product. What is a product … Read more…

Benefits of a new category product entry

  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 type of product to the firm, which is an established product in the marketplace, this is … Read more…

Reasons to introduce new-to-the-world products

  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 one that is introduced by a company or an organization that has never been marketed … Read more…

Classifying new products in marketing

  Types of new products There are several accepted categories for classifying new products within a company, these are: New-to-the-world products New category products Product line extensions Product improvements Product repositioning Cost reductions Much more than brand-new inventions When we think about new products, we automatically think about brand-new inventions such as out of space … Read more…