KNES 472 Lecture Notes - Lecture 5: Market Saturation
Document Summary
New product development: the complete process of bringing a new product, product improvements, modifications, or new brands to market, a company typically generates thousands of ideas to find a good one, ongoing process, steps to product development/idea generation: New product development: 67% of new products fail. Product lifecycle: product and brand strategies must consider various stages in the life of any product/brand: Customers need to be enticed to buy the product. Growth: costs reduced due to economies of scale, sales volume increases, profitability rises, public awareness increases competition increases, price decreases. Maturity: costs lowered, sales volume peaks market saturation reached increase in competition, prices reduced, brand differentiation and product diversification used to maintain/increase market share. Equipment cycles appear more technology-driven than apparel cycles. Apparel cycles blend the more stable trends in game forms with fluctuations in fashion. After consulting with smart design and the gatorade sport science.
