- Explain common challenges of new products
- Identify approaches to improving the success of new products
- Identify the challenges associated with marketing a new product successfully
Have you ever waited in line to be among the first to buy a new product when it was released?
Are you careful, maybe pragmatic, about trying new products?
Do you continue to use products that your friends and family believe are outdated?
Your answers to these questions matter to the marketers who are targeting you. We have looked at the life cycle of products and the process for developing new products. As a buyer, you have specific attitudes and behaviours when it comes to new products—or at least toward groups of products. These behaviours are both intriguing and vexing to marketers.
- Reading: Diffusion of Innovation
- Reading: Improved Success in Product Development
- Self Check: Challenges for New Products