Category: Build

A skeleton figure ascending steps on a yellow wall, metaphor for new product development steps.
New Product Development, Product Idea Generation, Product Prototype, Launch

How to Create New Products? – Steps to Successfully Develop New Products

We have all wondered how our favorite products have come to existence or have wanted to create our own products to sell. The following, however, are some of the most consistent steps taken by many of the giants before us, from the starting concept to the final step, the marketplace.

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Fish swimming towards a hook with a 'LOW PRICES' sign, illustrating penetration pricing strategy.
Penetration Pricing, Price Skimming

Penetration Pricing – How does Penetration Pricing Work and When to use it?

Some companies will swoop into a market with radically low prices as a strategy for attracting new clients. This is called a penetration pricing strategy. We’ll explore what penetration pricing is, how it works, how it compares to other pricing strategies, when it should be used and also look at some penetration pricing examples.

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Whole apple and plated apple slices with cheese, illustrating the concept of product augmentation.
Augmented Product, Product Differentiation

What is an Augmented Product? Product Augmentation Strategies and Examples

Product augmentation can be accomplished by adding a variety of different add-ons to the original product… The augmented product then contributes to a better customer experience. This also makes major contribution to brand loyalty and creates a favorable purchase experience for the customer.

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