MGT 3300 Chapter Notes - Chapter 9: Mycoplasma, Swot Analysis, Testng
Document Summary
Chapter 9: new product management and new-product development. Really new product ideas disrupt the old ways of doing things, for marketers and customers. How successful product are developed in the first place. Why its critical for firm to have effective new product dev. Product life cycle describes stages a really new product idea goes through from beg. Market introduction investing in the future. Sales are low as new idea first introduced into market o: customers not looking for product o. Losses during intro stage b/c money invested on product, price, and promotion development hope for future profits. Market growth profits go up and down. End of stage industry profits begin to decline as competition and customer price sensitivity (ps) increase. Market maturity sales level off profits continue down: when industry sales level off and competition gets tougher, competitors cut prices to attract business less efficient firms drop out of market.
