MKTG6004 Lecture Notes - Lecture 1: Brand Equity, Search Engine Marketing, Bubble Wrap
15 Aug 2018
School
Department
Course
Professor
Document Summary
New product development: for the top new product firms, about 49% of company sales and profits come from products that were introduced in the last five years, for other firms, this average is about 21%. Lesson: firms that maintain their commitment to new products are rewarded with sales and profits! The new products team is a cross-functional team with personnel from marketing, r&d, engineering, manufacturing, production, design, and other areas. All members of the team make a contribution to the new products process and the success of the team depends on how well they interact. Amazon has a huge product base, but it has introduced kindle and adding to list will be amazon cube. The target market of this product will be individuals who are concerned about health. This can include people who go to gym, people who are trying to eat healthy or even old people who are trying to take a hold on what they are eating.
