What is a new product? : What is a new product? A product that opens up an entirely new market.
A product that adapts up or replace an existing product.
A product that significantly broadens the market for an existing product.
An old product introduced in a new market.
An old product packaged in different way.
An old product marketed in a different way.
Why develop new products? : Why develop new products? To add to product portfolio
To create stars and cash cows for future
To replace the declining product
To take advantage of new technology
To maintain/increase market share
To defeat rivals
To keep up with rivals
To make competitive advantages