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chapter

developing new products

eleven

LEARNING OBJECTIVES

LO1 Identify the reasons firms innovate.LO2 Describe the different groups of

adopters articulated by the diffusion of innovation theory.

LO3 Identify the factors that determine how fast innovation diffuses.

LO4 Explain the various stages involved in developing a new product or service.

LO5 Describe the various product life cycle concepts.

Developing New Products

11-2

Innovation and Value

11-3

Diffusion of Innovation

11-4

New Product Introductions

Pioneers radically change

competition and consumer

preferences.

Pioneers radically change

competition and consumer

preferences. ©D

err

ick

Don

nelly

, B

lack

bag

Tech

nolo

gie

11-5

Using the Diffusion of Innovation Theory

11-6

How Firms Develop New Products

11-7

Idea Generation

11-8

Product Development

©Lars A Niki

11-9

Market Testing

Dodge Commercial

Digital Vision/Getty Images

11-10

Product LaunchNew Product Marketing Mix

11-11

Evaluation of Results

11-12

Product Life Cycle

11-13

Strategies Based on the Product Life Cycle: Some Caveats

11-14

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