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New product development can be categorized into:
- Products that create a new market or niche segment: Paper disposable diapers are a good example of an entirely new-to-the-world product that, when introduced, created an entirely new and explosively large growth segment for infant care.
- Additions or line extensions to existing products: New flavors and new sizes of existing products are examples of line extensions. For example, new Life Savers flavors continue to proliferate (over 50 to date), continually refreshing a brand name and product line over several decades.
- Product improvements: Cars are a good example of products where continuous improvements are made each year, with increased safety, road handling, driver/rider comfort, entertainment feature improvements, etc., that competitors strive to quickly copy.
- Repositioned products: Tums (the anti-acid stomach product) has successfully repositioned itself to feature its high calcium content as a benefit primarily for women's health needs, along with its original antacid claims.
Generating New Product Ideas
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