New Products New Product Categories New Product Development Process Product Development Strategies: POSITIONING STRATEGIES,POSITIONING TECHNIQUES,PRODUCT DIFFERENTIATION STRATEGIES.

2. Contents:
 New Products
 New Product Categories
 New Product Development Process
 Product Development Strategies

3.  A new product that opens entirely new
market
 A product that adopts/replaces existing
product
 Significantly broadens market for existing
product
 Old product introduced in new markets
 Old product packaged in different way
 Old product marketed in different way

4.  Innovative Products
 New Product Lines
 Addition to Product Lines (line extension)
 Improvement/Revision of existing product
 Reposition product
 Cost reduction

5. NEW PRODUCT DEVELOPMENT PROCESS

6. • IDEA GENERATION
• IDEA SCREENING
• CONCEPT DEVELOPMENT & TESTING
• BUSINESS ANALYSIS
• PRODUCT DEVELOPMENT
• TEST MARKETING
• COMMERCIALIZATION
• REVIEW OF MARKET PERFORMANCE

7. PRODUCT
DEVELOPMENT
STRATEGIES

8. POSITIONING STRATEGIES
• Impulse Purchase Items
• Daily Use Items
• Speciality Items
• Consumer Durables
• Industrial Products

9. POSITIONING TECHNIQUES
• By Product Attributes
• By Distinct benefit to users
• By specific usage
• For a user category or application
• By product class associated
• By price/quality
• By lifestyle of users
• By reference groups

10. PRODUCT DIFFERENTIATION STRATEGIES
• By product features
• By performance quality
• Exclusivity and style
• Design
• Product range and variety
• Service Quality
• Packaging