The document discusses new product development and the life cycle stages of products from introduction to decline. It notes the importance of innovation and sustaining competitive advantage through understanding threats. The document promotes apple cider vinegar as a versatile natural product that can be used for health, beauty, cleaning, and more. It suggests marketing apple cider vinegar to those seeking an all-natural multi-purpose household product.

1. ARE YOU
SITTING ON A
MILLION
DOLLAR IDEA?
New product development is
important due to the aging
of older products.

2. The stages of
products are:
Market
introduction;
Growth;
Maturity;
Decline.

3. “New and
Improved!”
Refurbishing is
focused on a
target market of
customers with
beneficial new
features!

4. wanting to
sustain
competitive
advantage must
understand and
protect products
from strategic
threats of
innovation.”

5. products year
after year.
Innovation
streams are
patterns that
help create
sustainable
competitive
advantage.

6. A product mix is
the total
composite or
group of all
products that a
business makes
available to its
customers!

7. beauty-care;
laundry and
cleaning;
food and
beverage;
paper;
cosmetic and
fragrance
products.

8. numerous uses
and should be
repositioned and
marketed to
customers
seeking and all
natural product
with a wide
variety of uses.

9. Apple cider
vinegar can be
used for health
and beauty as
well as an all
purpose
household
cleaning agent.
I

10. Apple Cider
Vinegar can be
used for:
Acne;
Sunburn;
Allergies;
Leg Cramps;
Mouth wash;

11. used for
Pet bath to rid
fleas;
Fly or gnat traps;
Window cleaner;
wall cleaner;
fabric stain
remover;
Laundry cleaner

12. market it to those
wanting to have
all natural,
common
household
product that can
be used for
almost
everything!

13. References:
Pride, W. and
Ferrell, O.C.
(2013)
Foundations of
Marketing. 5th
EditionCengage
Learning.
Mason, OH.

14. Williams, C.
(2013).
MGMT5.5th
Edition. Mason,
OH.Cengage
Learning.