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PrinciplesofMarketingNineteenthEditionChapter9DevelopingNewProductsandManagingtheProductLifeCycleCopyright?2024,2021,2018PearsonEducation,Inc.AllRightsReserved
LearningObjectives9.1Explorehowcompaniesfindanddevelopnewproductideas.9.2Definethestepsinthenewproductdevelopmentprocessandthemajorconsiderationsinmanagingthisprocess.9.3Describethestagesoftheproductlifecycleandhowmarketingstrategieschangeduringaproduct’slifecycle.9.4Discusstwoadditionalproductissues:sociallyresponsibleproductdecisionsandinternationalproductandservicesmarketing.
GOOGLE(ellipsiser,Alphabet):TheNewProductMoonshotFactoryAlphabetistheNewProductMoonshotFactory.Google’snewproductdevelopmentprocessmovesquicklyandhasunleasheddiversenewproducts.InnovationismorethanaprocessatGoogle;itispartofthecompany’sDNA.“WheredoesinnovationhappenatGoogle?Ithappenseverywhere.”GoogleandparentcompanyAlphabetarewildlyinnovative.Thecompany’sinnovationmachineisrenownedforproducingnewproduct“moonshots,”futuristiclongshotsthat,ifsuccessful,willprofoundlychangehowpeoplelive.VovanIvanovich/Shutterstock
LearningObjective1Explorehowcompaniesfindanddevelopnewproductideas.
NewProductDevelopmentStrategyWaystoObtainNewProductsAcquisitionreferstothebuyingofawholecompany,apatent,oralicensetoproducesomeoneelse’sproduct.Newproductdevelopmentreferstooriginalproducts,productimprovements,productmodifications,andnewbrandsdevelopedfromthefirm’sownresearchanddevelopment.
LearningObjective2Definethestepsinthenewproductdevelopmentprocessandthemajorconsiderationsinmanagingthisprocess.
NewProductDevelopmentProcess(1of17)Figure9.1MajorStagesinNewProductDevelopment
NewProductDevelopmentProcess(2of17)IdeaGenerationIdeagenerationisthesystematicsearchfornewproductideas.Sources
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