1. 20 Introducing New Market Offerings 1

2. Figure 20.1 New-Product Development Decision Process Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 20-2

3. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 20-3 Ways to Find Great New Ideas  Run informal sessions with customers  Allow time off for technical people to putter on pet projects  Make customer brainstorming a part of plant tours  Survey your customers  Undertake “fly on the wall” research to customers

4. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 20-4 Drawing Ideas from Customers  Observe customers using product  Ask customers about problems with products  Ask customers about their dream products  Use a customer advisory board or a brand community of enthusiasts to discuss product

5. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 20-5 Test Market Decisions  Test Marketing is a limited geographic introduction of a new product to gauge its potential  How many test cities?  Which cities?  Length of test?  What information to collect?  What action to take?

6. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 20-6 What is Adoption? Adoption is an individual’s decision to become a regular user of a product.

7. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 20-7 Stages in the Adoption Process Awareness Interest Evaluation Trial Adoption

8. Figure 20.7 Adopter Categorization on the Basis of Relative time of Adoption Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall 20-8