New product entrance into the market

Content
Introduction
3
1. What is a new product?
4
2. Why companies introduce new products?
5
3. Why do products succeed?
6
4. Why do products fail?
7
5. How do products diffuse into the market?
8
6. What is the product life cycle?
10
8. Project: new product entrance into the market.
16
General information
16
Methodology and samples
16
Objectives and survey overview
17
Qualifiers
17
Questionnaire
17
Results overview
22
Conclusions
27
Literature list
30
Appendix 1 Sample data and result statistics
31
Introduction
This paper will focus on the launch of new products into the market. First of all some theory will be given about product launch and the product life cycle. To give an overview of the theory an answer given to the following questions:
• What is a new product?
• Why should one introduce new products?
• Why do products succeed?
• Why do products fail?
• How do products diffuse into the market?
• What is the product life cycle?
After answering these questions and statements, there will be an evaluation of one product according to the product life cycle. One product will be chosen of which the entrance into a new market will be shown and the possibilities in the product-life-cycle will be discussed. A marketing research questionnaire will be given that will provide the possibilities of conducting this research.
As conclusion the theory will be discussed in accordance with the results from the conducted research and an advice will be given about the advertising strategy.
The first 6 sections will give answers to the stated questions according to the theory. Section 7 will give the questionnaire and the results of that questionnaire as it was conducted. In the final section, a conclusion will given with an indication of an advertising strategy.
1. What is a new product?
Before a new product enters the market significant time has been spent on R&D. In some cases the developments in R&D can make other products already in the market obsolete. Schumpeter describes this as an radical innovation. Such innovation...

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