Transcript 1 20 Introducing New Market Offerings

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Introducing New
Market Offerings
Figure 20.1 New-Product
Development Decision Process
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Ways to Find Great New Ideas
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Run informal sessions with customers
Allow time off for technical people to putter on
pet projects
Make customer brainstorming a part of plant
tours
Survey your customers
Undertake “fly on the wall” research to
customers
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Drawing Ideas from Customers
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Observe customers using product
Ask customers about problems with products
Ask customers about their dream products
Use a customer advisory board or a brand
community of enthusiasts to discuss product
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Test Market Decisions
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Test Marketing is a limited geographic
introduction of a new product to gauge its
potential
How many test cities?
Which cities?
Length of test?
What information to collect?
What action to take?
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What is Adoption?
Adoption is an individual’s decision to
become a regular user of a product.
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Stages in the Adoption Process
Awareness
Interest
Evaluation
Trial
Adoption
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Figure 20.7 Adopter
Categorization on the Basis of
Relative time of Adoption
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