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Chapter 8

MKT 100 Chapter Notes - Chapter 8: Market Saturation, Reverse Engineering, Botulinum Toxin


Department
Marketing
Course Code
MKT 100
Professor
Fathima Saleem
Chapter
8

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Chapter 8: Developing New Products
Why Do Firms Create New Products?
Product: 


Innovaon: 


1. Changing Customers Needs
 
 
!" 
#
2. Market Saturaon
$

%&
!
3. Managing Risk Through Diversity
'(
$
()*
4. Fashion Cycles
 
+
Innovaon and Value
Pioneers: 

First movers: 
,

Adopon of Innovaon
Di,usion/Adopon of Innovaon: 


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-./
0
1. Innovators (2.5%)
-&
$
1

2&

3044
2. Early Adopters (13.5%)
#55/
6
3. Early Majority (34%)

%
7 8
$
4. Late Majority (34%)
+
2
-

5. Laggards (16%)

9
!&
Using the Adopon Cycle
$0
 
1. Relave Advantage & Compability
3
28
2. Observability
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