MKTG6004 Lecture Notes - Lecture 1: Sodium Bicarbonate, Deodorant, Decision Points
Document Summary
Firms that maintain their commitment to new products are rewarded with higher profits. Product life cycle: introduction growth maturity decline. The new products process is all about teams: 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 (communication) Seek to leverage their product development skills across their subsidiaries and gain competitive advantage: many decisions to make that impact global product development effectiveness. Selecting the best organisational structure is more difficult than if only one culture is involved: differences among individuals, linguistic barriers, culture differences: should positioning, branding or packaging decisions be localized. Firms with a global innovation culture have the most effective global np programs.
