What is the new product?

1. from the point of view of the consumer: a new product if used before.

2. from the perspective of a marketer: new product if deals marketer by nor is it part of his products.

3. from the point of view of the producing establishment: may not be a new product but modify an existing product.

4. from the point of view of the market: a new product is first introduced in the market.

 

Sources of new products

Get through two ways:

1. buy or right or other facility product production license.

2. by developing product within established by workers in the management of research and development.

 

Reasons for the failure of new products:

1. lack of product features.

2. problems in marketing.

3. lack of efficiency required in the facility.

4. the small size of the target market.

5. technical problems of the product.

6. redistribution of the target position in the market.

7. administrative problems.

 

Factors that help to increase the likelihood of success of the new product:

1. the new product better than existing alternatives in the market.

2. scientific and meticulous research timing proper descent product.

3. the new product based on experience and strengths.

4. a careful examination of the potential market.

5. take care of the design of the product and test it before his announcement.

6. careful selection and proper niche product on the market.

 

Alternative plans for new product development:

First: the initiative plans

Aiming to outdo rivals track plans leading enterprises technological innovation and have greater sovereignty in the market.

Stronger approaches:

-Research and development: depends on the efforts of scientists and researchers

Market approach: start by identifying the needs and desires of consumers and produce goods that fulfills.

 

II: the reaction plans

Here the Treaty respond to change and focus on modifications to existing products or product line expansion or development of existing products.

Stronger approaches:

-Modify existing products: and by changing the quality level or change in product functionality.

-Product line expansion: the main goal is to invade other parts of the market.

-Product development for entering new markets when current market becomes less attractive resort facilities to look for opportunities for growth in other markets.

 

Top management's responsibility towards the development of new products:

1. a clear definition of markets and commodities that you established.

2. the flexible selection of new product design and development budget.

3. organizational design for product design and development.

 

Various groups to develop new products:

1. new product manager

2. new product committees

3. new product departments

4. new product teams

 

Stages of development of new products:

First: the creation of ideas:

New product development success depends on established largely on the ability of organized research and invent new ideas.

II: selection of ideas:

The primary goal of this phase is to reduce the number of ideas generated by the efforts of the first stage until can be produced and converted into real products.

III: development idea and tested:

Here the focus is on the most attractive ideas and new idea is converted into a specific idea and related to a particular product.

IV: develop marketing strategy:

At this point the initial design is marketing strategy which consists of three parts.

Part 1: a detailed description of the target market.

Part II: marketing mix plan which includes the characteristics of the product and its price proposal and distribution channels and marketing budget for the first year.

Part III: consists of long term marketing plan for sales and benefits.

 

VA: trade analysis:

This is the last stage before starting to invest huge funds to produce the first copy of the new product and economic analysis and strategic marketing and review various legal aspects and especially the possibility of legal protection for the new product.

 

Vi: product development:

At this point the product is converted from a simple image or description to something material cost increases noticeably, especially if needed more time to get the product well. When you design the product you must make a decision regarding after sales service these decisions depend largely on the type of product in this area products are divided into four categories:

1. products that are indispensable.

2. the products which could be repaired.

3. products requiring a quick response.

4. products that never fails.

 

VII: the test catalog:

At this stage is testing the product with its catalog program which includes the packaging, name, price, distribution and promotion and targeted market niche. The objective of this test is to determine the performance level of the product and how its specific functions.

Types of marketing tests

-Standardized tests: where you choose established a limited number of cities for its new product offers accompanied by program catalog and use different types of consumer survey, distributors and sales are measured in stores that carry the product.

Conditions for a good place to test the new product:

1. is saturated with ads.

2. most consumer purchases.

3. the target market in terms of competitive goods existed.

4. an appropriate size so you can control the test.

5. aldimoggharavi similarity with the target market in terms of average income, age and level of education, manner of living, etc.

-Surveillance tests: usually perform this type of specialized research companies tests and select shops and places to be tested by the manufacturer of commodity research company with stores that agree to participate in the test view product in store for research company paid product placement in these stores and arrange shelving and supply and supply of materials used in China within the store and set prices according to the agreed plan with label sales are measured to see the effects Those factors.

-Simulation tests: which simulate or mimic the shopping environment for the product and display advertisements and promotional material for many products including the new product on a sample of prospective consumers and gives each of them a small amount of cash and then invite them to visit a real shop or copycat contains lots of products, including new product or shopping at a store and observed their behavior and the types of products they buy.

 

VIII: the new product to the market:

Depends on the number of decisions:

1. timing: stop chose the appropriate time to introduce the new product to the market on many considerations including how the product needs to be further developed and the effects on the existing product sales and the economic situation in General.

2. place: possible to choose a small town or the entire territory or release a day across the country or world market also offers.