new product

new product

a good or service which is sufficiently different from existing products to be regarded as new by consumers. The degree of newness of a product depends upon the extent of its novelty and whether it embodies product attributes not previously available, and can range from relatively minor adaptations of existing products to entirely different product offerings like microwave ovens. Products which are radically different can rapidly establish COMPETITIVE ADVANTAGE as they open up an entirely new market and dominate the early stages of the PRODUCT LIFE CYCLE. See NEW-PRODUCT DEVELOPMENT, DIFFUSION PROCESS.

new product

a good or service that is sufficiently different from existing products to be regarded as ‘new’ by consumers. The degree of ‘newness’ of a product depends upon the extent of its novelty and whether it embodies product attributes not previously available and can range from relatively minor adaptations of existing products to entirely different product offerings, like microwave ovens. A product that is significantly novel can give a supplier a major PRODUCT DIFFERENTIATION advantage over competitors. As such, developing new products (see PRODUCT DEVELOPMENT) is an important area of non-price competition in OLIGOPOLY.
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An increasingly important issue is the roles of purchasing and suppliers in the new product development process.
Another important aspect of new product development (NPD) process is for your company to review its brand architecture.
Independent market research firm BrandSpark International announced the winners of the 2018 Best New Product Awards, which includes three area companies, including Barilla based in Northbrook, Aldi headquartered in Batavia and Chicago's Conagra.
Robert Levy: Through our experience assisting brands with new products development, we were aware of how difficult it is even for great new products to stand out in store: even a year after a national launch only one in three category shoppers are aware of the average new product.
This paper introduces a business case to help students understand the challenges in introducing a new product. In using the case study method, the instructor can discuss how the different functional areas of business can impact the decision to introduce [or not introduce] a new product.
FST Biometrics, the leading visual identification solutions provider, received top industry recognition for its new IMID Access 4.0 product as a winner in the 2017 SIA New Product Showcase during ISC West in Las Vegas.
Before a new product makes its way onto the shelves of Ambridge Do it Best, Strano has either heard of it from a customer or discovered it at a competitor's business.
IRI New Product Pacesetter brands are the 100 largest non-food and 100 largest food and beverage launches of 2015.
In the United States, more than six in 10 respondents (65 percent) to a recent Nielsen survey say they like when manufacturers offer new products, and more than one-quarter (31 percent) say they purchased a new product during their last grocery shopping trip.
Filipinos are among consumers worldwide who are showing strong affinity for brands which are investing in new product development and are among the most likely to try new product offerings, according the a new report by Nielsen.
Summary: First North-listed CybAero is set to unveil a new product line on March 31.
TATA Steel has reached a signifi-cant milestone in the transformation of its European steel portfolio with the launch of its 100th new product.

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