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chapter developing new products eleve n McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

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Page 1: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

chapter

developing new products

eleven

McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved.

Page 2: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

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

Page 3: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Innovation and Value

11-3

Page 4: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Diffusion of Innovation

11-4

Page 5: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

New Product Introductions

Pioneers radically change

competition and consumer

preferences.

Pioneers radically change

competition and consumer

preferences. ©D

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Don

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Tech

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s

11-5

Page 6: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Using the Diffusion of Innovation Theory

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Page 7: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

How Firms Develop New Products

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Page 8: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Idea Generation

11-8

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Product Development

©Lars A Niki

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Page 10: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Market Testing

Dodge Commercial

Digital Vision/Getty Images

11-10

Page 11: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Product LaunchNew Product Marketing Mix

11-11

Page 12: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Evaluation of Results

11-12

Page 13: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Product Life Cycle

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Page 14: Chapter developing new products eleven McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved

Strategies Based on the Product Life Cycle: Some Caveats

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