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Topics to be covered this session.
– New product introduction.
– The product life cycle concept
Introduction
New products are a vital part of a firm’s competitive growth strategy. Leaders of successful firms know that it is not enough to develop new products on a sporadic basis. What counts is a climate of product development that leads to one triumph after another. It is commonplace for major companies to have 50 percent or more of their current sales in products introduced within the last 10 years.
Learning Objectives
? Explore the new product development process.
? Describe the main risks involved in developing new products.
? Understand the role of innovation in new product successes.
? Explore how branding and packaging can be used as competitive tools.
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