Categories of New Products – What is a New Product?
What is “New”?
Explore the wide spectrum of what constitutes a “new product.” Understand the range from revolutionary inventions to subtle repositioning.
What is “New”?
Explore the wide spectrum of what constitutes a “new product.” Understand the range from revolutionary inventions to subtle repositioning.
The Product Itself Matters
Focus on the five key product characteristics and how they influence consumer decisions.
Explore when and how to implement price increases or decreases, including the importance of maintaining customer trust and brand image.
Understand Pricing Psychology
Learn how pricing influences customer behavior. Use targeted strategies to create a sense of value and urgency.
Explore contrasting pricing strategies for new products: price skimming for high initial profits vs. penetration pricing for rapid market share gains.
Cost-based pricing involves setting prices based on the costs for producing, distributing and selling the product. But costs represent the other extreme: costs set the floor for the price that the company can charge.
Customer value-based pricing is considered to be the best pricing strategy… When a customer buys a product, he exchanges something of value (the price) to get something of value in return (the benefits of having or using the product or service).
Pricing for Profitability
Learn how to calculate cost-based pricing to ensure your business stays profitable. Explore strategies for setting prices that cover expenses and generate returns.
The Product Lifecycle Roadmap
Understand the distinct stages of a product’s lifecycle and learn how to optimize your marketing strategy throughout each phase.
The Product Journey
Understand the classic product life cycle stages from Introduction through Decline. Learn how sales and profits change over time.