Atwar Training & Management Consultancy

innovation process

Want to Create Products Customers Love? Integrate User Experience As noted by Steven Johnson in his TED Talk, “Where Good Ideas Come From,” coffeehouses are important places to exchange ideas. I have enjoyed many id

What Is a New Product?
New-to-the-world (really-new) products (10% of new products): Inventions that create a whole new market. Ex.: Polaroid camera, Sony Walkman, Palm Pilot, Rollerblade skates, P&G Febreze and Dryel.
New-to-the-firm products (20%): Products that take a firm into a category new to it. Ex.: P&G brand shampoo or coffee, Hallmark gift items, AT&T Universal credit card, Canon laser printer.
Additions to existing product lines (26%): Line extensions and flankers in current markets. Ex.: Tide Liquid, Bud Light, Apple’s iMac, HP LaserJet 7P.
Improvements and revisions to existing products (26%): Current products made better. Ex.: P&G’s continuing improvements to Tide detergent, Ivory soap.
Repositionings (7%): Products that are retargeted for a new use or application. Ex.: Arm & Hammer baking soda sold as a refrigerator deodorant; aspirin repositioned as a safeguard against heart attacks.
Cost reductions (11%): New products that provide the customer similar performance but at a lower cost. May be more of a “new product” in terms of design or production
new product management by merle crawford