1. Marketing Principles Section: 101
Chapter: 9
New Product Development and Product Life- Cycle Strategies
Mohammad G. Bajwa
Khalid Al Qahtani
Abdulaziz Gabori

2. New-Product Ideas Internal sources: Formal R&D, thinking of employees.
External sources:
Competitors’ offerings > Distributors > Suppliers.
Customers:
Croudsourcing or open-innovation new-product idea programs.

3. Steps in New-Product Development process
Idea generation
Idea screening
Product concept development
Concept testing
Marketing strategy development
Business-analysis
Product development
Test marketing
Commercialization

4. Stages of Product Life Cycle (PLC)
Product development stage
Introduction stage
Growth stage
Maturity stage
Decline stage

5. Social Responsibility and International product/service marketing
Public policy issues and regulations involving acquiring or dropping products, patent protection, product quality and safety, and product warranties.
International product/service marketing:
International marketers must decide how much to standardize or adapt their offering for world markets.