One of the challenges of a mature market in the PLC is that, more than likely, eventually the firm will be faced with competition from new style of product. That is, the most significant competitors are going to introduce technology that is quite different in their design/features (while meeting the same underlying consumer need). For […]
Should we cannibalize our own products? Find Out More...
This website has discussed consumer innovators numerous times, due to their importance in generating product adoption and kick-starting the introduction phase of the product life cycle. While innovators are the initial type of consumer, there are other consumer mindsets that are typically discussed in marketing textbooks.The standard consumer adoption categories include:InnovatorsEarly adoptersEarly majorityLate majorityLaggardsTypically these
Consumer Adoption Categories Find Out More...
The introduction stage is the initial phase of the product’s life cycle, where a new product is introduced to the market. It is characterized by many unique aspects, as outlined in this article.
Key Characteristics of the Introduction Phase of the PLC Find Out More...
Need help with your ATAR forecast for your new product launch? Let’s dig into the details of prices, margins, costs, and purchase volume and frequency.
ATAR Model: Guide to Prices, Costs, Margins, Quantity Find Out More...
Find out about the factors that impact the percentage of consumers that trial a product, which marketers can influence and drive.
Increasing New Product Trial Rates Find Out More...
A financial forecast model for new products is simply one of the areas of evaluation for the go/no-go decision on whether or not to develop the product and take it to market.
Financial Forecasts in New Product Decisions Find Out More...
While there are numerous benefits of using the ATAR forecasting model for new products and marketing, there are also some limitations and cautions that you need to be aware of when using this approach.
Limitations of the ATAR Forecasting Model Find Out More...
The ATAR forecasting model is designed for marketing purposes. So let’s explore the key advantages and benefits of using this forecasting model for new products and marketing.
Benefits of the ATAR forecast model Find Out More...
Availability refers to the extent that the new product is available to consumers through retailers, various direct channels and online.
Availability in the ATAR Forecasting Model Find Out More...
A trial refers to a first-time purchase by a consumer. This is where a consumer pays money for the product for the first time– either at the full rate or discount due to some form of sales promotion.
Trial in the ATAR Forecasting Model Find Out More...
