Categories of New Products in Marketing
Find out more about the mains stages of the new product process and the different types of new product – plus what it takes to be successful.
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What is the Halo Effect in Marketing?
The Halo Effect is a cognitive bias that influences our perception and judgment of a person, brand, or product based on a single positive trait or characteristic.
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The Importance of Product Differentiation in Marketing
Product differentiation refers to the process of distinguishing a product or service from its competitors in the market. It involves creating unique features, benefits, or attributes that set a product apart and make it more appealing to customers.
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Understanding Sales Cannibalization in Marketing
Sales cannibalization refers to a situation where a company’s own products or services compete with each other for market share.
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What Is Product Complexity in Adoption of New Products
Product complexity refers to the level of intricacy or difficulty associated with a particular innovation. It can be categorized into three main types: technological complexity, usability complexity, and market complexity.
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What is Diffusion of Innovation?
Explore the five stages of innovation diffusion: awareness, interest, evaluation, trial, and adoption. Discover the characteristics and behaviors of each adopter group, including innovators, early adopters, early majority, late majority, and laggards.
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What is Shrinkflation?
Shrinkflation describes a marketing tactic where the size or quantity of a product decreases while the price remains the same. The main reason why brands use shrinkflation is to maintain their profit margins.
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Sales Cannibalization Examples
Find a list of some real-life examples of sales cannibalization, to get a sense of what it is and how cannibalization can impact a brand.
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Make the PLC: A Free Excel Template
The product life cycle template for Excel – available for free downloadOften students want to graph multiple products onto the product life cycle using an Excel spreadsheet or some other charting approach. Perhaps surprisingly, this is sometimes awkward to produce easily, given the focus on the Excel spreadsheet to produce graphs rather than images.Therefore, in
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New Products and the PLC
As it is possible to use the product life cycle as a portfolio analysis tool, which allows us to consider whether we have adequately provided for the future profitability for the firm/brand, it is an obvious that there is a strong connection between the product life cycle and the firm’s new product development requirements.Obviously virtually
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