Speed of New Product Adoption
Smart TVs became popular within a few years, yet microwave ovens faced significant market resistance and took decades to get adopted. The challenge is to determine why this was the case.
Member Activities
New Product Evaluation
Students review a new product that never went ahead. Did the firm made the right decision, or should they have spent more time, money and effort evaluating it further?
Not Enough New Product Ideas?
The ability of firms to generate new product concepts is a key factor in new product success. Some firms appear to be more successful at this task than others. This firm is not very good at it – but why?
Generating New Product Ideas and Concepts
Firms will use a variety of methods to generate new product ideas/concepts. Students review examples and identify what approach each firm is using.
Aligning New Products to Strategy
The student task in this activity is to generate some potential new product ideas/concepts that would logically fit with McDonald’s overall strategy.
Marketing’s Role in the New Product Process
The task is to review the following list of new product development tasks and evaluate whether or not the marketing function would be involved.
Classifying New Products
For this activity, students identify what ‘type’ of new product the firm has developed – new category, product line extension, and so on.
Developing a CRM Strategy
In this activity, students act as consultants for a music festival, with their task being to develop a strategy to increase attendance and profitability for this annual event.
Impact of Reduced Staff Empowerment
Students review a retailer who have changed their refund policy – did management make the right decision by reducing staff empowerment? Includes aspects of CRM and CLV.
Designing Internal Marketing Campaigns
For this task, students are the marketing manager for a bank and planning a major new product launch. They need to develop an internal marketing program for the bank’s branch and call center staff to complete the sales.