Podcast
Questions and Answers
What is a new-to-the-world product?
What is a new-to-the-world product?
What is the difference between new-to-the-world products and new-to-the-firm products?
What is the difference between new-to-the-world products and new-to-the-firm products?
What is a repositioning of a product?
What is a repositioning of a product?
What are line extensions?
What are line extensions?
Signup and view all the answers
What is an example of a new-to-the-firm product?
What is an example of a new-to-the-firm product?
Signup and view all the answers
Which of the following is an example of a new-to-the-firm product?
Which of the following is an example of a new-to-the-firm product?
Signup and view all the answers
Study Notes
- New products can be categorized based on how new they are to the world or the firm.
- New-to-the-world products create a whole new market.
- New-to-the-firm products take a firm into a new category.
- Additions to existing product lines are line extensions.
- Improvements and revisions make current products better.
- Repositionings retarget products for a new use or application.
- Cost reductions replace existing products at a lower cost.
- Examples of new-to-the-world products include Polaroid camera, iPod, and iPad.
- Examples of new-to-the-firm products include P&G's first shampoo or coffee.
- Examples of additions to existing product lines include P&G's Tide Liquid detergent and Bud Light.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
Description
Take this quiz to test your knowledge on the different types of new products and their examples. Learn about new-to-the-world products that create a whole new market, new-to-the-firm products that take a firm into a new category, line extensions, improvements, repositionings, and cost reductions. Challenge yourself to identify examples of each type of new product, including popular products like the Polaroid camera, iPod, and Tide Liquid detergent. Are you ready to become a product expert? Start the quiz
