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h:\share\rabino\information
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and marketing strategy.ppt
Why New Products Fail?
(cont’d)
• No protocol – clear statement of
target market, its needs, what product
would do
• Poor positioning – diet beer vs. light
beer
• Inadequate budget – biggest reason
small companies fail is inadequate
capital
• Inadequate competitive analysis –
reaction of current incumbents,
products from new entrants
• Blinders (=“Vision”?)– company may
have preconception that is never
questioned. (Especially for high-tech)
h:\share\rabino\information
2
and marketing strategy.ppt
Why New Products Fail?
(cont’d)
• No Access to Market – especially
difficult for smaller companies in
competitive industries.
• Bad timing – “Better never than late.”
relative to competitors, First-movers
may have advantage. Relative to
customer trends, may not want to be
early; too much education required.
• Poor execution of marketing mix –
wrong price, wrong distribution, wrong
ad campaign. “Bad advertising kills a
good product”
h:\share\rabino\information
3
and marketing strategy.ppt
Taxonomy of Types of Innovation
Market
Familiar with Product class Unfamiliar with product class
Product Market
Modifications Modification
Examples: Examples:
Known
• Extra-strength pain killer • “Personal copier”
•Unscented TIDE •Food processors for
•Downsized home use
Technology
Routine Radical
Innovations Innovation
Examples: Examples:
•Digital audio tapes •Genetically
Developing •Fuel injected engines engineered cancer
•Product “Alpha” “cures”
•Integrated office
systems
•Product “Beta”
Note:
Shaded cells indicate the domain of technological innovation
h:\share\rabino\information
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and marketing strategy.ppt
A New Product Introduction Model (Robert Cooper)
The model is a series of moves and is set up as a stepwise
process to move a new product from the idea stage to
market launch
h:\share\rabino\information
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and marketing strategy.ppt
Success Factors
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and marketing strategy.ppt
The Seven-Stage Game Plan
Idea
Preliminary Assessment
Concept
Development
Testing
Trial
Launch
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and marketing strategy.ppt
Phases in the Life of a Product (Cont)
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and marketing strategy.ppt