MKT 723 Chapter Notes - Chapter 9: Colt New Service
13 May 2013
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Document Summary
Failures of a new product/service can be caused by: no unique benefits, insufficient demand, unrealistic goals, poor fit within the organization"s portfolio, poor location, poor financial backing, low quality product/marketing. Most reliable predictors of success relate to product/service characteristics (meeting customer needs, advantage over competition, technological sophistication), strategy characteristics (dedicated hr and r&d), process characteristics (marketing, predevelopment, technological and launch proficiencies), and market potential. The longer a service, the hard to explain. Furthermore, services are variable as they are delivered employee to customer. Oversimplification words are inadequate to explain a service. Incompleteness in describing service, people tend to omit detains or elements of the service which they"re not familiar with. Biased interpretation no two people will define quick, responsive, flexible the same way. Products designed via the steps of structured planning framework have a greater likelihood of success.
