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The market diffusion process describes how an innovation progresses through a market. For these reasons, it is crucial to understand the facets of the market diffusion process and its importance for new product development (NPD).
The Strategic Roadmap Focus on the big picture of how marketing changes over a product's life. Emphasize the proactive approach needed to keep a product successful.
Understand the different types of consumer products: convenience, shopping, and specialty. This knowledge is essential for developing effective marketing strategies tailored to each type.
Shopping for Value Explore shopping products. Highlight how consumers compare these items and what it means for marketers of furniture, clothing, etc.
A strong competitive analysis is key to success. Learn about the four types of competitors – market leaders, challengers, followers, and nichers – and how to use this knowledge to your advantage.
The amount spent on business purchasing far exceeds consumer purchasing. That makes it so crucial to understand the classification of B2B goods... The primary categories of B2B offerings are entering goods, foundation goods and facilitating goods.
The new products process is the path that a new product takes from idea to the time of launch and beyond... The 5 phases of the new products process ensure that companies reach maximum efficiency in developing new, successful products.
What is "New"? Explore the wide spectrum of what constitutes a "new product." Understand the range from revolutionary inventions to subtle repositioning.
Customer Profiling Understand the key ways to segment your market. Learn about demographics, geography, buying habits, and more for precise targeting.
The Product Itself Matters Focus on the five key product characteristics and how they influence consumer decisions.
Advertising is one of the most visible forms of communication. Therefore, advertising budget decisions are critical. Choosing the promotional budget can be a tough process, so study the available methods carefully!
The intensity of rivalry between existing competitors in a market or industry depends on a number of factors. Assessing the intensity of competition in an industry is the most important step in the 5 Forces of Porter Model Analysis.
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