The market diffusion process describes how an innovation spreads through a market. In addition, it provides information that enables management to identify target markets. For these reasons, it is crucial to understand the facets of the market diffusion process and its importance for the new product development process (NPD). In the following, we will explore the market diffusion process in more detail and derive marketing implications.
The new products process is the path that a new product takes from idea to the time of launch and beyond. Let’s investigate the necessary steps to develop new products:…
The term new product can mean different things. Six different categories of new products can be identified that are all quite different from each other. Still, they are all called new…
In order to stay successful in the face of maturing products, companies have to obtain new ones by a carefully executed new product development process. But they face a problem:…
“New products are the lifeblood of a company” (Philip Kotler). Old products simply mature and fade away, so companies must develop new ones to stay successful. To do so, there…