Management and Organizational Studies 2320A/B Lecture Notes - Lecture 8: Canadian Blood Services, Market Saturation, Revamp

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2320A/B
• Professor: John White

Document Summary

Product: anything that is of value to a consumer and can be offered through a marketing exchange. In addition to goods, such as toothpaste, or services, such as haircut, products might also be places (canada), ideas ( stop smoking ), organizations (canadian blood services), people (taylor swift), or communities (facebook. com) New market offerings provide value to both firms and customers. The degree to which they do depends on how new they really are o o o. A new product does not necessarily mean that it has never existed before lego has exited for a long time but lego friends is new for kids. Completely new to the market products represent fewer than 10% of all new product introductions in a year. Regardless of how new" the product is, firms have to innovate. Innovation strategies may not work in the short run; overriding long-term reasons compel firms to introduce new products and services o.